easyJet have cancelled dozens of flights this week as further ash disruption continues to affect services.

The budget airline - beginning Sunday - has cancelled flights first from London Gatwick and Stansted, and then over Scotland as the ash cloud spread. On Tuesday, as ash clouds receded over UK, flights were cancelled to and from Barcelona, Madrid and Faro as the situation remained unstable - leading to some flights going around in a circle as the spread of the cloud forced a return to UK.

The budget airline is thought to have lost £75 million so far from the previous crisis, and is thought to have cancelled around forty flights this week as they announce profits disruption for full year results in a statement on their H1 results:

Nomura analysts however, offered this comment:

"Easyjet's H1 results showed continued positive momentum in the business...with underlying total revenue per seat up 2.4 pct in Q2."

"Pricing continues to be robust, but there as some issues creeping in for the next management team, namely the challenge of executing the £190m cost cutting for the benefit of shareholders and the upcoming court case with the major shareholder." they said.

"We remain buyers but see rising challenges for the new management team" Nomura added giving the airline a target price of 500p.

"Costs...on an underlying basis, ex-currency, still rose over 3 pct, despite cost cutting".

Forward orders for next half year including the summer were 47 pct. Thomas Cook meanwhile today announced £70 million worth of losses to ash disruption.

Shares in the FTSE 250 company were down 1.65 pct on early trading.

FTSE