May 17, 2019

easyJet blames Brexit and Gatwick drone for £270m loss

Low-cost carrier easyJet has reported a pre-tax loss of £272m for the six months to March 31 as it blamed Brexit uncertainty and the Gatwick drone incident. The company said revenue per seat at constant currency in the second half was now expected to be slightly down, a change since the April warning, indicating trading conditions have worsened. EasyJet maintained its full-year guidance for pre-tax profit. The carrier said that headline cost per seat had increased 3.9 per cent and total revenue per seat fell by 7.4 per cent at constant currency. EasyJet also reported that its efforts to ensure majority EU ownership to avoid losing its flying rights in the event of a no-deal Brexit have somewhat unwound: it had 49.6 per cent of EU owners at the end of April, whereas at the end of March it had 49.9 per cent.

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