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EasyJet Reports Strong Q3 Results on Back of Summer Travel Demand

LONDON, July 20 (Reuters) - Britain's easyJet posted a pretax profit of 203 million pounds ($262.48 million) for its third quarter as ticket yields soared 22% year-on-year on the back of an ongoing rebound in summer travel demand.

Airlines in Europe are set to report strong earnings this quarter as post-pandemic travel demand continues to drive bookings across the continent at similar levels to 2019.

The airline also said it expected to report record pretax profit for its fourth quarter, the July to end of September period, as costs per seat flattened with oil prices stabilizing.

However easyJet's chief executive Johan Lundgren warned about the potential impact of limited airspace availability and air traffic control strikes in Europe.

"We are absolutely focused on mitigating the impact of the challenging external environment on our customers and flying them on their well-earned holidays," he said in a statement.

($1 = 0.7734 pounds)

Reporting by Joanna Plucinska and Paul Sandle, editing by Sarah Young

Source: Reuters

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