EasyJet profits hit by Brexit fallout and attacks

The EasyyJet flight landed safely.
The EasyyJet flight landed safely.
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EasyJet has revealed it will take a hit of more than £200 million from the plunging pound and a series of “extraordinary events” after terrorist attacks and air traffic control strikes have taken their toll.

The airline today warned that it will be left nursing at least £125m in lost profit after a combination of terror attacks across Europe, Egypt and Tunisia as well as air traffic control strikes in France and political turmoil in Turkey.

It added that the tumbling value of the pound since the Brexit vote – hitting fresh 31-year lows against the US dollar this week – would cost it £90m.

The group said it was expecting profits for the year to 30 September to nosedive by nearly a third, to between £490m and £495m. It has slashed fares by around 9 per cent year-on-year to boost demand as it has also battled a price war with Ryanair.

Boss Carolyn McCall said: “We have been disproportionately affected by extraordinary events this year.”

The carrier insisted it had “performed strongly in a difficult operating environment for all European airlines”.

The travel industry has been knocked hard by a string of terrorist attacks in Belgium and France as well as Tunisia, while airlines are still not flying to Egyptian resort Sharm el Sheikh after a Russian aircraft crashed soon after take-off.

Tour operators and airlines have also had to switch away from once popular sun-seeker destination Turkey after an attempted coup earlier this year.

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