Easyjet shares fell by more than 9% on Tuesday after the airline warned that disruption from French air traffic control strikes in April would cut pre-tax profits by £25 million. The strikes forced the cancellation of around 600 flights.
The budget carrier also said the Germanwings plane crash in March had deterred passengers from booking flights. Chief executive Carolyn McCall described April as a 'one-off horrible month', noting that 'a lot of passengers just didn't book' following the tragic event.
Despite these setbacks, Easyjet reported a profit of £7 million for the six months to 31 March, compared with a loss of £53 million in the same period last year. The improvement was driven by cheaper fuel and a strong finish to the ski season. Revenues rose 3.8% to £1.767 billion.
However, the outlook for the third quarter is less optimistic. Revenue per seat is expected to fall by about four percentage points, partly due to the timing of Easter. Currency headwinds are also expected to weigh on results in the second half of the financial year.
McCall said forward bookings had 'picked up momentum again' and were in line with last year. She added that lower fuel costs were being passed on to passengers through lower fares. The airline said it was 'well positioned to grow revenue and profit this year'.
