EasyJet upgrades first-half forecast on currency boost

British low cost carrier EasyJet upgraded forecasts for its first-half period, saying it expected foreign currency tailwinds to provide a £20 million 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 and a profit of £10 million, compared to guidance given in January for a loss of between £10 million and £30 million.

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.

Reuters