Terror attacks and strikes caused EasyJet £20 million loss

Published on : Friday, July 22, 2016

easyjetThe renowned budget airlines EasyJet had to endure a loss of £20 million after terror attacks and air traffic control strikes created an economic turmoil in entire Europe.



From April to June, the firm had to cancel 1,221 flights due to the disturbance in the continent. Right after EasyJet authorities announced about the 2.6% fall in their revenue, the company’s share price fell down.



The terror attack in Brussels, runway closure in Gatwick and the disappearance of Egyptair flight brought major blows to the entire aviation industry. To top that, the EasyJet authority had to encounter numerous air traffic control strikes as well. The recent attack in Nice and the Turkey military coup also contributed to EasyJet’s loss.



Over two thirds of the air traffic of EasyJet flies through France. Thus, the strikes by the French air traffic control hit the company’s revenue hard.



It is estimated that the Brexit vote results is about to cost EasyJet almost £80 million by the end of September because of currency fluctuation. The budget airline buys the fuel in dollars and pays their expenses in Euros.



The CEO of EasyJet, Carolyn McCall has stated that as the value of Pound became weak, EasyJet started to win the air fare war. At present the average ticket fare of the airlines is 5.4% down than previous year.



It has been found out that the passenger numbers has grown to a 20.2 million in June despite the flight cancellations as the airlines is adding more routes for the passengers.

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