Economics

EasyJet annual profit hit by slumping pound

British low-cost airline EasyJet, currently with direct flights from Luxembourg to UK, France, Italy and Portugal, warned Tuesday it faced further financial turbulence from a Brexit-driven slump in the pound.

15.11.2016

(AFP) British low-cost airline EasyJet, currently with direct flights from Luxembourg to UK, France, Italy and Portugal, warned Tuesday it faced further financial turbulence from a Brexit-driven slump in the pound after terror attacks and labour disputes took their toll on annual profits.

Pre-tax profit tumbled by 28 percent to 574 million euros in the year to September 30 compared with 2014-15 "mainly due to the decline in revenue and foreign exchange impact", EasyJet said in an earnings statement.