EasyJet Profit Falls as Brexit Compounds Terror-Spree Impact
- Pretax profit down about 28 percent as pound’s fall hits costs
- CE0 sticks with growth plan, saying rivals will suffer more
The Negative Impact From Brexit on EasyJet
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EasyJet Plc’s annual profit declined for the first time since 2009 as a slump in the pound inflated costs and a spate of terror attacks across Europe depressed prices, revealing the challenge facing even the region’s biggest carriers amid faltering economies and a glut in capacity.
Shares of Luton, England-based EasyJet fell as much as 8.9 percent Thursday after it said pretax profit for the year ended Sept. 30 was between 490 million pounds and 495 million pounds ($623 million-$630 million). That’s about 28 percent below 2015’s earnings and lower than the 516 million-pound figure anticipated by analysts.