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EasyJet boosted by Air France strike; Shares jump

British low-cost airline easyJet lifted its annual profit forecast, after it benefited from lower than expected fuel costs, favorable exchange rate moves and a two-week strike at rival airline Air France-KLM.


Alexander Klein | AFP | Getty Images

The company said it now expected to report annual pretax profit in the range of 575 million pounds to 580 million pounds($928-$936 million) compared to the 545 million to 570 million pounds level which it had guided at the time of its third quarter results in July.

Ahead of Friday's update, the consensus analyst forecast was for easyJet to report pretax profit of 566 million pounds in the year to the end of September, according to Reuters data.

A strike by Air France pilots is expected to have added 5 million pounds to the company's revenues as customers switched onto its planes, easyJet said on Friday in a preclose statement ahead of its full-year results due on Nov. 18.

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