easyJet to report record losses
03.05.09
easyJet is expected to report record losses of nearly £130m for the half-year ending March 31 this week, compared with a £48m loss for the same period last year.
The increased losses are being blamed on the budget airline's fuel hedging policy. Its planes are reported to be using fuel that was bought near the peak at around $140 a barrel a year ago, whilst oil is currently hovering between $45 to $50 a barrel. Analysts still forecast full-year pretax profits of about £50m.
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