EasyJet losses widen on oil price shock

Low-cost airline easyJet said last month’s snow chaos cost it £18m (€21m) and warned soaring fuel costs were expected to double half-year losses.

Shares in the carrier slumped 15% as it cautioned pre-tax losses in its first half – traditionally a period when it makes losses – were now likely to be in the range of £140m (€166m) to £160m (€189m) compared with £78.7m (€93.3m) a year earlier.