EasyJet profit falls as currency woes take toll on airline

British low-cost airline easyJet said it expected currency headwinds and measures to mitigate Britain’s vote to leave the EU to hit earnings again in 2017 after reporting its first fall in annual profit in six years.

For the 12-months to the end of September, easyJet, Europe's no.2 no-frills carrier behind Ryanair, posted a 28 per cent drop in pretax profit to £495 million, a first decline since 2009, although at the upper end of a £490 million to £495 million range given in October.

The weak sterling following the Brexit vote resulted in an £88 million hit to easyJet’s profit in its 2015-16 financial year and the carrier said on Tuesday it expected a further impact of £90 million in the 12 months to September 2017.