Britain's easyJet secures revenue boost from faltering rivals

London

SHARES in easyJet soared on Tuesday after a quarterly revenue rise showed the British budget airline had benefited as rivals struggled, in the first trading update under new boss Johan Lundgren.

The industry was reshaped last year after British holiday carrier Monarch collapsed, Germany's Air Berlin and Italy's Alitalia went into administration and Europe's biggest budget airline Ryanair scrapped flights due to pilot rostering issues.