easyJet expected to report record losses
03.05.09
easyJet is expected to report record losses of nearly £130million for the half-year ending March 31 this week, compared with a £48million loss for that period last year.
The losses are being blamed on its fuel hedging policy. Its planes are using fuel that was bought near the peak of about $140 a barrel a year ago, whilst oil is hovering about $45 to $50 a barrel. Analysts still forecast full-year pretax profits of about £50million.
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