Print Edition - 2018-07-19  |  Money Digest

EasyJet lifts profit forecast as rivals falter


Jul 19, 2018-

British low cost airline easyJet raised its profit guidance on Wednesday, forecasting earnings could soar by as much as 45 percent this year as it benefits from the collapse of rivals last year and strikes at competitor Air France. EasyJet, which is Europe’s second-largest budget airline behind Ryanair, predicted pretax profit for the 12 months to the end of September in a range of 550 million pounds ($720 million) to 590 million pounds. Shares in the company climbed 4 percent in early trade, making them among the top gainers on Britain’s blue-chip index. EasyJet called the competitive environment benign, saying it was continuing to benefit from the failure of smaller British rival Monarch last year and that it had picked up passengers from Air France, which has cancelled flights due to strikes. (REUTERS)

Published: 19-07-2018 08:11

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