easyJet has said that ash disruption from the Icelandic volcano could be up to £75 million as it seeks to get back on track after it was forced to shutdown during snow and ash disruption during December last year and April this year.
Over one million passengers were affected as snow and ash closed airports around Europe and UK and easyJet remain uncertain on compensation as yet, it does not know how much to expect.
Snow losses which occurred December last year are more certain with net losses £25 million whilst ash disruption is between £50 to £75 million.
Good cash generation however saw £1,358 million of reserves created by March 2010, with future 2010 commitments within these limits.
Forward booking levels were 47 pct for second half of the year compared with Thomas Cook who had 83 pct for May and 90 pct for June.
The Group outlook saw growth reduced by 2.5 pct due to impact of volcanic ash, whilst pre-tax profits were to be within the range of £100 to £150 million down from £175 to £200 million with no other volcano ash activity expected.
"I think easyJet has done extremely well" said Chief Executive Officer, Andy Harrison, "The company continues to its next milestone of 10 pct of the European short haul market" he added.