EasyJet Expects More Losses
Introduction
EasyJet is a cheap airline. The company expects to lose more money in the first six months of the year. This is because of wars in the Middle East. These wars make fuel more expensive.
Main Body
EasyJet thinks it will lose between £540 million and £560 million. Last year, it lost £394 million. Fuel prices went up in March. This cost the company £25 million more. The company also spent £30 million on legal problems. More people flew in the first half of the year. Passenger numbers grew by 22%. However, fewer people want to go to Egypt, Turkey, and Cyprus. More people want to go to Spain and Italy. Also, people now buy tickets closer to their flight date. They do this because they are worried about the economy. The company has £4.7 billion in cash. This is enough money to keep working. After this news, the company's share price went down.
Conclusion
EasyJet has problems now. But the bosses think the company is still strong. They believe the airline can reach its goals.