EasyJet has reported a rise in annual profits as strong demand for its package holidays to destinations including Tenerife and Lanzarote offset more difficult trading for its airline.

Europe’s second-biggest budget airline upgraded its outlook for its holidays division, where it raised prices by an average of 5% to £698 for each break.

Its most popular package holiday destinations were Mallorca, Tenerife, Costa Blanca, Dalaman and Lanzarote. Top city breaks included Amsterdam, Paris, Prague, Krakow and Barcelona. Ryanair expects me to take the financial hit for helping others Read more

Analysts said the results indicated that consumers saw family holidays as “almost sacrosanct” despite a challenging macroeconomic environment.

EasyJet said it had invested in longer leisure and city

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