Holidays are still a top priority, says Easyjet boss Johan Lundgren

Squeezed consumers are pressing ahead with trips abroad despite the rising cost of living, says Easyjets boss.

Travel has moved up to the top spot when it comes to discretionary spending. People want to travel, Johan Lundgren said.

His comments came after the budget carrier saw a surge in passengers in the last three months of 2022. Easyjet flew 17.5m people in the quarter, a 47per cent jump from a year earlier.

And the airline said it will be back in the black this year after three years of losses. In the 12 months to September, Lundgren said it will smash analyst forecasts of a 126million profit. Shares jumped 9.7 per cent, or 45.4p, to 513.4p.

The stock has surged nearly 60 per cent since the start of the year amid growing evidence that holidays remain a priority for cash-strapped households.