EasyJet is flying high, at least with analysts at UBS, despite fresh challenges facing airlines because of the new potent Covid variant.

As shares in EasyJet flopped 62¼p, or 11 per cent, to 502p amid the wider turmoil in markets, UBS issued a “buy” recommendation on the stock.

UBS’s view is that there have been encouraging signs about fares for flights in the final three months of the year, with economy tickets up by almost a third. Fares for travel in the first quarter are also up by about 15 per cent. EasyJet in particular looks good, the analysts believe, as it has been able to get its network going again.

The upbeat note may look like poor timing, but UBS said that while worries