The budget airline, recently downgraded from Goldman Sachs' buy rating has fallen around 40 pence since however is rising today - currently up 2.42 pct.

However, falling revenue from volcanic ash, the merger of competitor BA and Iberia, and increasing value of Ryanair make tomorrow's announcement important in terms of placing the company for the next six months.

"easyJet has performed well through the recession and its strong unit revenue performance is testimony to the quality of its network" says Goldman Sachs.

"Positive surprises could come from the cost side." added their analyst, Hugo Scott-Gall.

Revenue for 2010 is expected to be around £3.2 billion, and like their rivals, is expected to have been hit around £40-55 mln, however, Aer Lingus were slightly less around €20 mln (£17.6 mln).

Aer Lingus, who have also reported finances up to 31 March said that losses narrowed from €74.8m to roughly half that.

In terms of public statements, the company has been low-key with just one announcement that it welcomed the Conservatives pledge to reform the tax system on air travel.

Andy Harrison - CEO, meanwhile, is to move on to Whitbread whilst Guardian Media Group's Carolyn McCall has been announced his successor from September.

"We may know more once we have heard from the new management team - CEO Carolyn McCall (ex Guardian Media Group) and CFO Chris Kennedy (ex EMI Music)" said Goldman Sachs' analyst, Hugo Scott-Gall.

"Our new 6-month price target of 520p is based on 1.5x 2010E P/BV" he adds,"Further volcano-related disruption is the key downside risk."

Goldman Sachs currently have a 'neutral' rating after one year of putting it on their 'buy' list.