Airline easyJet has said it expects its full-year pre-tax profit to fall from £120 million to £110 million, according to a report.
Reuters reports that the company also predicts a drop of between two and four per cent in airline travel over the winter this year.
EasyJet said that it expected the "strong growth" in revenue per seat to moderate over the coming winter months, partly due to the "weakening consumer environment" in Britain.
According to the report, easyJet stock has lost more than 40 per cent of its value so far this year and it expects to have cash reserves of about £900 million at the end of this month.
In related news, chief executive of British Airways (BA) Willie Walsh has said the airline industry is in its "deepest crisis" after falling victim to high oil prices and THE economic downturn, reports the Press Association.
Mr Walsh said BA had to create a "stronger business" to get through the tough financial times.
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