EasyJet improves annual profit forecast thanks to Ryanair’s problems

The company now forecasts that earnings for the 2018 financial year, which will end on September 30, will increase by about 40 percent due to such disposable factors as bankruptcy of Monarch and Air Berlin, as well as due to strikes in Ryanair.

EasyJet’s pre-tax profit for the fiscal year will be from 570 million pounds ($ 746 million) to 580 million pounds, the company expects. The July forecast assumed profits in the range of 550-590 million pounds.

Now Ryanair is getting ready for the next strike of the crew, which will affect about 40,000 passengers in six European countries.

source: reuters.com