Security Concerns Cited As EasyJet Flies Into Loss After Brussels Attacks


British no-frills airline EasyJet on Tuesday said it had fallen into a loss during the first half of its financial year in the wake of the Brussels attacks.

Its earnings statement added that future revenues would be impacted also by recent events in the Belgian capital.

Net losses stood at £20 million ($29 million, 25 million euros) in the six months to the end of March, compared with a profit after tax of £5.0 million during the equivalent period in 2014/15.

“Taking into account the timing of Easter and the effects of terrorism in Brussels, EasyJet expects third quarter revenue per seat to decline by around seven percentage points,” the airline added in its statement.

“EasyJet expects revenue per seat at constant currency for the second half of the financial year to decrease by low to mid-single digit percentage points.”

EasyJet said revenue in the first half was hit also by reduced flying to Paris and Egypt following attacks there in late 2015.

On the upside, the airline benefitted from lower fuel costs.

On March 22, Brussels was hit by suicide bombings claimed by the extremist Islamic State group that targeted the city’s airport and a metro station, leaving 32 people dead.

Two bombers blew themselves up at the check-in area of Brussels airport, while a third detonated his explosives at Maalbeek metro station near the EU headquarters.

International Airlines Group, owner of British Airways and Iberia, recently said it was scaling back plans to raise its flights offering because of the Brussels attacks.


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