EasyJet set to return to the FTSE 100 after pandemic-time exit

Budget airline EasyJet Plc is on track to reclaim its place in the UK’s blue-chip equity index, almost four years after it dropped out of the benchmark during the Covid-19 outbreak. The company would replace Endeavour Mining Plc, which is set to be demoted to the FTSE 250, according to indicative results announced by index compiler FTSE Russell on Tuesday. EasyJet has rallied more than 50% since an October low amid a broader market rebound while also benefiting from tighter capacity among short-haul airlines, higher pricing and an easing in fuel costs. Last month’s trading update suggested strong summer bookings and increased demand for its package holiday offerings. Still, even after the surge, the shares remain well-below their pre-Covid price. After the pandemic-era plunge, the company later faced fierce competition from discount rivals Ryanair Holdings Plc and Wizz Air Holdings Plc, while also being hit by industrial action that disrupted travel from its base, London Gatwick.<br/>