Arab Today, arab today easyjet shares dive on profitwarning
Last Updated : GMT 12:32:41
Arab Today, arab today
Arab Today, arab today

EasyJet shares dive on profit-warning

Arab Today, arab today

Arab Today, arab today EasyJet shares dive on profit-warning

EasyJet
London - AFP

EasyJet shares slumped on Tuesday as the budget carrier said a strike by French air traffic controllers last month would slash profits.

It comes after the British airline said it had managed an unlikely profit during its first half, a period when carriers normally report losses, thanks to lower fuel costs and a stronger pound.

But EasyJet shares tumbled almost 8.0 percent in morning deals in London after it said that April's strike action by French air traffic controllers would hit pre-tax profits by £25 million ($39 million, 35 million euros).

"Warning of turbulence ahead has taken the shine off a sunny start after delivering profits in its seasonally weaker first half," said Peter Ward, dealer at London Capital Group.

"Cheaper fuel costs helped the first half as expected, but... French strike action as EasyJet embarks upon its key summer travel season has ruffled investors."

The British airline reported a net profit of £5.0 million in the six months to the end of March compared with a loss after tax of £41 million one year earlier.

EasyJet, like its rivals, tends to post losses during the northern hemisphere winter when it carries fewer passengers compared with the peak summer holiday season.

"As expected the lower oil price has been beneficial for customers and EasyJet will be able to offer its customers even better value fares this summer whilst continuing to grow revenue and profit," the airline said in an earnings statement.

Oil prices slumped for most of the reporting period on a supply glut, making the cost of jet fuel -- which is refined from crude -- cheaper.

EasyJet had meanwhile announced in late March that earnings had benefited during its first half from currency movements after the European single currency slumped to multi-year low points against the pound and dollar on the back of eurozone strains.

In late morning trade, shares in EasyJet were down 7.97 percent at 1,687 pence on London's benchmark FTSE 100 index, which was 2.0-percent lower at 6,889.17 points.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today easyjet shares dive on profitwarning Arab Today, arab today easyjet shares dive on profitwarning

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:57 2017 Sunday ,26 February

Huawei wins MRM Business Innovation Award

GMT 08:49 2017 Saturday ,25 February

Shell plans $300 mn investment in Argentina shale

GMT 05:40 2017 Saturday ,25 February

British Airways owner reports profit

GMT 15:19 2017 Thursday ,23 February

Companies' commitment to Bahrainisation quotas praised

GMT 14:48 2017 Thursday ,23 February

Etihad Airways Engineering signs deal with Kenya Airways

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday