EasyJet shares crash as ‘extraordinary events’ including terror attacks and bad weather hit profits hard

EASYJET’S shares crashed yesterday as it warned “extraordinary events” could hit profits for more than £200million.

It revealed the weak Pound will cost it £90million over the next year — up from a forecast of £35million.

The budget airline also told how factors including the Paris attacks, the closure of Sharm el-Sheikh and disruptions such as strikes and bad weather had cost it £125million over the past year.

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It now expects its profits for the year to September 30 to be between £490million and £495million — down by around a third on last year.

Shares closed down 6.9 per cent for the day at 935.11, but earlier they were as much as nine per cent lower. This year they have nearly halved from around 1700p.

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EasyJet boss Carolyn McCall said: “We have been disproportionately affected by extraordinary events.

“The environment’s tough for all airlines, but we’ll invest for the long-term success of the business.”

On the upside, fare cuts saw it fly a record 22million passengers in the third quarter of this year.

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But George Salmon, of HARGREAVES LANSDOWN, said: “Weaker Sterling’s making going abroad less affordable for the average Brit, while the rising threat of terrorism is also putting customers off.

“The competition is hotting up too.”