Ryanair shares tumbled more than 3% on news that its outgoing chief operating officer Peter Bellew is to join main rival EasyJet.

By Eamon Quinn

Budget airline easyJet looks set to deepen half-year losses next week, as it grapples with Brexit-hit pound, costs linked to launching a new European base and drops in bookings to some cities following terrorist attacks.

Air France-KLM joined other European airlines in warning of the impact on revenue this year of recent attacks in France and political upheaval elsewhere as it reported a drop in sales and braced for a strike by its staff.

Lufthansa chief executive Carsten Spohr said the German airline needs a deeper overhaul after acknowledging the most expansive saving plan to date was swept away by higher costs and falling ticket prices.