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easyJet sees annual profits drop by more than 25%

easyJet has recorded a pre-tax profit nosedive of 27.9%. Credit: PA

Budget airline easyJet has posted a 27.9% tumble in pre-tax profits to £495 million for the year to September 30, from £686 million a year prior, after the plunging pound cost it £88 million.

It also lost around £150 million from "unprecedented" events. Airlines have been knocked by a combination of political turmoil, terror attacks, strikes, and intense competition in the sector.

The airline said it was planning a review over the next year to make "meaningful" savings and a "simpler, more efficient" company.

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EasyJet pilots 'fatigue' strike suspended, union says

The pilots union has suspended industrial action. Credit: PA

Industrial action by easyJet pilots has been suspended while new proposals on tackling fatigue are being considered, the British Airline Pilots Association (Balpa) said.

Some 2,000 pilots at the budget airline were balloted over concerns that rising levels of fatigue risked "serious health and safety concerns".

However, in last minute talks proposals to mitigate pilot fatigue have been put on the table.

A statement said: "As a result, while this proposal is being consulted on by Balpa members, we are suspending serving strike notice on the company."

Brian Strutton, Balpa's general secretary, said it did not mean the dispute was over but said it was right to suspend the action as they consult their members.

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