EasyJet upgrades profit forecast

Low-cost airline EasyJet has lifted profit expectations for its traditionally weaker first half but warned it could be buffeted by volatile exchange rates and oil prices in coming months.

The group said it expected its pre-tax result for the six months to March 31 somewhere between a loss of £5m (€6.8m) and profit of £10m.

It offered a glimmer of hope its performance over the winter period would be in the black. The airline had previously forecast a first half loss of between £10m and £30m. A year ago it posted a £53m loss for the same period.