EasyJet eyed for signs of post-Brexit turbulence

EasyJet is set to post third-quarter results. Picture: Contributed

EasyJet is set to post third-quarter results. Picture: Contributed

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EasyJet is expected to give clues this week about the impact on consumer demand for cheap air travel following Britain’s decision to quit the EU.

The budget airline, which is set to report its third-quarter results on Thursday, was forced to issue a profit warning in the days after the referendum, and then signalled that it could move its headquarters to Europe.

City analysts believe that full-year profits could take a £50 million hit from a combination of slowing demand following the Brexit vote, currency and fuel price swings and disruption suffered in May and June.

Wyn Ellis, an analyst at Numis, said: “Roughly four weeks on it will be interesting to see what impact Brexit has actually had on bookings at a vital time of the year and whether there is any further change to guidance.”

Numis has downgraded its profit forecast to £612m. A consensus of City analysts puts the number lower at £592m.

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