Profits of the low-cost carrier look to be down by almost a third after it experienced a difficult summer of trading, which saw sterling fall sharply in value following June’s Brexit vote and ongoing consumer uncertainty over terrorism, the Telegraph reports.
EasyJet issued a profit warning last month, its first since 2009, saying it expects to make between £490m and £495m for the year - almost 30% less than the £686m it made last year.
A factor in the carrier’s prediction was the effect caused by a string of terror attacks in the last 12 months in popular holiday locations including Paris, Nice, Brussels and Sharm el-Sheikh, which cost the airline £125m in the first nine months of year in lost business, City A.M. reports.
The series of attacks dealt a blow to consumer confidence with the airline’s most recent monthly traffic figures showing a 3% point drop in the utilisation of its flights from last October.
The aftermath of the UK’s decision to leave the European Union also had a negative impact on the airline which saw its share price value wiped by a third following the vote.