easyJet upgrades first-half forecast on currency boost

LONDON: British low-cost carrier easyJet upgraded forecasts for its first-half period, saying it expected foreign currency tailwinds to provide a 20 million pounds boost, potentially helping it to overcome a usual seasonal loss.

The group, which like rivals traditionally makes a loss over the winter when fewer customers fly, said on Thursday that it now expected to come in between a loss of 5 million pounds ($7.45 million) and a profit of 10 million pounds, compared to guidance given in January for a loss of between 10 million pounds and 30 million pounds.

easyJet, Europe's No. 2 low-cost carrier behind Ryanair , said the weakening of the euro against the pound was the main boost to its bottom line in the second quarter. It is due to publish its first-half results on May 12.