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Budget airlines enjoy impressive passenger growth

08 June 2017 09:29

Ryanair and easyJet have both benefited from rising passenger figures

Ryanair and easyJet have both benefited from rising passenger figures

Two of Europe's major budget airlines enjoyed strong passenger growth last month, as the summer holiday season got under way.

For easyJet, the year-on-year jump in passengers stood at 9.5% in May, with the total hitting 7.5 million.

And Ryanair saw even better growth, with passenger levels climbing by 11% to 11.8 million overall.

In terms of load factor, the figure for both easyJet and Ryanair stood at 95%. Load factor helps to calculate how efficiently airlines are filling seats.

Mixed news for wider travel sector

While both sets of figures are positive, the situation facing the European travel industry is less clear-cut following recent terror incidents.

Last month, easyJet announced large half-year losses, stemming largely from the collapse in the value of the pound following the 2016 Brexit vote. The later timing of the Easter weekend also weighed on the results. It saw a £236 million pre-tax loss over the six months to March 31.

However, Ryanair has continued to enjoy rising annual profits, with these climbing by 6%. It said profits reached a level of 1.31 billion euro (£1.14 billion) over the year to March 31.

Industry data suggests that many people have been avoiding destinations in Turkey and Egypt as a result of the downing of a plane in Sharm el-Sheikh and an attempted coup by the Turkish army.

Importance of travel insurance

The holiday season will get into full swing in the coming weeks. The country's schools will soon be breaking up for their traditional summer holidays, while many workers will be booking breaks as the weather turns warmer.

Wherever people head abroad on holiday this year, they shouldn't lose sight of trusted travel insurance.

It can cover them against unexpected mishaps overseas, including medical costs, lost luggage expenses and plane delays.