easyJet has welcomed a 14.4 per cent rise in revenue in the three months to December 31st.

Figures at the Luton-based low-cost carrier were buoyed by the collapse of rivals Monarch, airberlin and Alitalia, and the impact of mass flight cancellations at Ryanair.

At the same time, easyJet reported revenue of £1.24 billion for the period, while passenger numbers rose 8.8 per cent to 18.8 million.

Capacity rose 5.5 per cent to 20.4 million seats and load factor jumped by 2.1 percentage points to 92.1 per cent.

The airline released the figures in its first trading update under new chief executive Johan Lundgren, a former TUI executive.

He said: “easyJet has seen a positive trading environment based on the strength of its network and customer proposition, capacity reductions and lower growth in easyJet markets, in particular as a result of the bankruptcies of Monarch, airberlin as well as the impact from Ryanair’s flight cancellations.

“With its strong balance sheet and significant financial and operational flexibility, easyJet is confident in its ability to drive long-term shareholder returns from its strategy of purposeful investment in securing leading positions in its core markets.”