The carrier made £495 million in 2015/16, a fall of 28% on the previous year, so 2016/17 is expected to be around £390 million.
During the latest first quarter, the number of passengers carried increased by 8.2% to 17.4 million, driven by a growth in capacity of 8.6% and load factor decreasing by 0.3 percentage points to 90%.
Total revenue in the quarter increased by 7.2% to £997 million “reflecting the increase in passengers carried through the period”.
Revenue per seat decreased by 8.2% at constant currency or by 1.2% on a reported basis to £51.64 per seat.
“As indicated in our full year 2016 results announcement, easyJet expects to incur a number of non-headline costs during the 2017 financial year,” the airline said in a statement.
The statement continued: “As mentioned previously, following the UK’s referendum vote to leave the European Union easyJet plans to establish an Air Operator Certificate (AOC) in another EU member state.
“This one-off cost is expected to total around £10 million over two years with up to £5 million incurred in the 2017 financial year.
“We have begun to implement the initial findings of the organisational review which has the objective of making easyJet’s structure more efficient.”
Chief executive Carolyn McCall said: "EasyJet has delivered a solid first quarter with revenue, cost and passenger numbers in line with expectations. This is despite a tough pricing and operating environment. Consumer demand remains strong with passenger growth of 8.2%, revenue growth of 7.2% and headline cost per seat reduction, at constant currency, of over 2%.
“The weakness of sterling and the impact of fuel combined are £35m worse than previously expected but easyJet has made good progress in reducing costs in those areas where we have more control such as engineering, maintenance, non-regulated airports and overheads.
"EasyJet continues to grow with purpose in our core markets with capacity growth of up to 9% across our network. Our focus has been to invest to deliver long term sustainable, profitable growth by strengthening our leading positions at Europe’s biggest and most popular airports.
"The underlying year-on-year revenue per seat trend continues to improve, supported by resilient demand across all our European markets. Forward bookings are ahead of last year.”
The carrier said the pricing and operating environment “remained tough” with fuel prices remaining low and continued strong growth in European short-haul capacity impacting yields across the industry.
