Proactive Investors - Low-cost carriers EasyJet, Ryanair (LON:0RYA) and Wizz Air (LON:WIZZ) are showing encouraging fare trends, with an average 17% year-on-year increase achieved in February, according to newly published data from JPMorgan Chase (NYSE:JPM).
Ryanair, while showing a solid +11% increase in February fares, slightly missed the more optimistic forecasts set by JPMorgan.
This, however, is counterbalanced by the anticipation of a strong March performance, buoyed by the upcoming Easter season.
Wizz Air saw a notable 23% increase in fares in February, while easyJet (LON:EZJ) fares surged 18%.
Looking forward, JPM analysts noted a “potentially strong demand picture for summer” across the low-cost carrier space, “given delivery delays and capacity constraints”.
“The early data looks supportive,” said the bank, though analysts did note that the entirety of summer is likely only around 30% booked at the current stage.
JPM has an overweight rating on easyJet and Ryanair stock, while Wizz Air is a neutral.