Warning of 'summer uncertainty' as EasyJet shares tumble

Warning of 'summer uncertainty' as EasyJet shares tumble

EasyJet shares fell 19% after the firm said it will take a £28m hit following two months of turbulence and warned that Brexit would have a negative impact on the airline.

Share fell from 1313p to 1061p as it flagged strikes in France in May and June and severe weather and congestion issues at Gatwick leading to more than a thousand cancellations, with the EgyptAir tragedy also denting demand.

The budget airline said: "The operating environment for all European airlines in May and June has been extremely challenging.

"These incidents, together with the EgyptAir tragedy, resulted in some drop off in consumer demand leading to lower yield and have impacted third quarter profit before tax by approximately £28m and have had a negative impact on third quarter revenue per seat."

On Brexit, easyJet said that it anticipates economic and consumer uncertainty this summer and, as a result, revenue in the second half will be down by "at least a mid-single digit percentage".

More in this Section

Aer Lingus sees drop in business travel over coronavirusAer Lingus sees drop in business travel over coronavirus

Irish staff seek legal advice on coronavirusIrish staff seek legal advice on coronavirus

Irish tourist chiefs on high alert as European events cancelledIrish tourist chiefs on high alert as European events cancelled

DHL scraps Ford electric delivery vanDHL scraps Ford electric delivery van


Lifestyle

Spring has sprung and a new Munster festival promises to celebrate its arrival with gusto, says Eve Kelliher.Spring has sprung: Munster festival promises to celebrate with gusto

The spotlight will fall on two Munster architects in a new showcase this year.Munster architects poised to build on their strengths

Prepare to fall for leather, whatever the weather, says Annmarie O'Connor.Trend of the week: It's always leather weather

The starting point for Michael West’s new play, in this joint production by Corn Exchange and the Abbey, is an alternative, though highly familiar, 1970s Ireland. You know, elections every few weeks, bad suits, wide ties, and a seedy nexus of politics and property development.Theatre Review: The Fall of the Second Republic at Abbey Theatre, Dublin

More From The Irish Examiner