Budget airline easyJet said it has agreed a deal with Airbus to defer the delivery of new aircraft.
Shares in the company jumped after it said a raft of deliveries from the French aerospace giant scheduled for the 2022 to 2024 financial period would now be delivered between 2027 and 2028.
EasyJet said it will still purchase 22 aircraft from the manufacturer as previously planned.
The deferral comes as the airline prepares for a prolonged recovery in passenger numbers with the coronavirus pandemic continuing to batter the travel industry.
As a result of the deferral, the future cash price of the aircraft being deferred will increase, easyJet told investors.
Chief executive Johan Lundgren said: “This latest amendment to our longstanding agreement with Airbus reflects easyJet’s significant fleet flexibility as well as the benefit of highly attractive aircraft pricing.
“In this period of uncertainty, this flexibility is even more valuable, as it will enable us to quickly flex our fleet size in response to customer demand.
“EasyJet’s unrivalled European network of number one and two positions in primary airports, strong liquidity and flexibility will enable us to capture pent-up demand as customers return to the skies.”
Shares in the company were 4.3% higher at 790.1p in early trading on Tuesday.