EasyJet has raised £1.15billion by selling new shares to existing investors, which will be traded on the London Stock Exchange from today.

The amount raised was just shy of easyJet’s target of £1.23bn after 93% of the new shares were snapped up by investors.

CEO Johan Lundgren said:  “The success of this capital raise, thanks to great support from investors, will enable easyJet to strengthen its balance sheet and accelerate its post-COVID 19 recovery plan.

“Importantly, it will position us to take advantage of strategic investment opportunities across our markets which will arise as we move into this period of recovery from the pandemic.

“EasyJet has been disciplined and decisive in maintaining a strong balance sheet, managing our fleet and network while looking after our customers. This will allow us to emerge from the pandemic with renewed strength, positioned as a structural winner in this rapidly evolving sector.

“We look forward to continuing to serve our customers with the same friendly service that has made us the brand of choice for millions whilst, at the same time, delivering value to our shareholders.”