EasyJet takes a profits nosedive

BUDGET airline easyJet has seen profits nosedive by 28 per cent in its first annual fall for six years after being hit by the plunging pound, terrorism fears and air strikes.

Boss Carolyn McCall said it had been a year of “significant challenges” after a combination of terror attacks across Europe, Egypt and Tunisia, air traffic control strikes in France, political turmoil in Turkey, as well as intense competition.

The group posted a tumble in pre-tax profits to £495m for the year to September 30, after the weaker pound cost it £88m, and it suffered a blow of £150m from “unprecedented” events.

It is also braced for another £90m hit over the year ahead, but this will be partly offset by lower fuel costs.

Ms McCall said it was a “resilient performance”.