Easyjet will this week report higher annual profits after travellers shrugged off economic woes in a bumper summer.
The budget airline’s results due tomorrow are expected to impress despite costly disruption from French air traffic control strikes.
Analysts expect easyJet to report a rise in profits to £650m for the year to the end of September – up from £610m in the previous year, according to broker AJ Bell. At its quarterly update in July, the group said its package holiday arm ‘continues to perform strongly’, too.
Taking off: Analysts expect easyJet to report a rise in profits to £650m for the year to the end of September – up from £610m in the previous year
But it warned that French air traffic control strikes in July created ‘unexpected and significant costs’. The walkouts forced it to cancel 660 flights and resulted in a £15m hit although further threatened action last month was called off.
Richard Hunter, head of markets at trading platform Interactive Investor, warned the airline could come ‘in the firing line for demotion from the FTSE 100 in the upcoming December reshuffle’.
Shares in easyJet have tumbled 17 per cent this year.
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