Turbulent Times For Easyjet

A fall in the value of the pound has added £40m ($53m) to Easyjet’s costs since the Brexit referendum on June 23, the UK-based carrier has said.

<p>A fall in the value of the pound has added £40m ($53m) to Easyjet’s costs since the Brexit referendum on June 23, the UK-based carrier has said.<p>This is mainly because of the airline’s dollar-denominated fuel bill, though aircraft purchases and leases are also in US currency.<p>In its quarterly result Easyjet revealed that it has also suffered from terrorist activity at several of its European and North African destinations, which alongside air traffic control strikes have forced it to lower fares to maintain demand.<p>Despite rising passenger numbers Easyjet actually recorded a small drop in revenue for the recent quarter because of an eight per cent reduction in yields.<p>The low-cost carrier's share price is down about 40 per cent since the start of the year.</p>

TAGS: Europe
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