The budget airline is expected to post a pre-tax loss of regarding 177 million pounds ($196 million), when it reveals its full-year business statement next Thursday, Britain’s BA Media news agency reported.
However, fourth-quarter earnings are expected to boost the company’s results, with analysts at brokerage Goodbody expecting a profit of 474 million pounds during that period.
Goodbody also said it expects losses larger than market expectations, around 40 million pounds, given the recent fall in the value of the pound and the fallout from fuel prices.
In September, easyJet CEO Johan Lundren admitted that the drop in sterling had “has an impact” on the company’s financial health. He added that the impact on EasyJet is likely to be smaller compared to its competitors due to the company’s hedging procedures.
Travelers have faced flight cancellations over the course of the summer, as airports such as Heathrow have faced a shortage of staff, making it difficult to deal with the high demand for overseas travel.
EasyJet said recently that its operations have returned to normal levels since last July, and that cancellations of flights throughout the day are lower compared to levels before the Corona pandemic.
The company transported regarding 16 million passengers in July and August, which it hopes will boost revenue during the last quarter.
The company’s share has fallen by regarding 55% since the beginning of the year, and its current price is at its lowest level in more than five years.
