Fuel costs expected to hit easyJet results
03.05.08
The impact of soaring fuel costs will dominate budget airline easyJet's interim results on Wednesday, with the airline's guidance on outlook and fuel costs seen as a key indication of how the aviation industry is coping with record oil prices.
The Luton Airport based carrier has already warned investors of lower profits in the second half of the year by revealing a potential £45 million hike in fuel costs last month. With oil prices remaining well above $100 dollars a barrel since that update - and surging to records near $120 - analysts are fearful of another profit warning.
The results for the six months to March 31 are expected to show underlying pre-tax losses widening to between £40 million and £45 million from £17.1 million last year, Numis predicts. easyJet bought former British Airways partner GB Airways for £103 million last year but the Gatwick-based airline is expected to have shown a loss.
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