Easyjet profits fall as sterling value dives

Easyjet's annual profits have dropped 17% after the budget airline was hit by the falling value of the pound.

Their profits have dipped from €557m to €460m.

However, it says it has benefitted from the chaos at Ryanair, which had to cancel flights after miscalculating pilot leave.

It has also been boosted by the collapse of Monarch and Air Berlin, and by Alitalia going into administration.

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