EasyJet puts volcanic ash cloud loss at £40m

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EasyJet has so far taken a £40 million ($61 million) hit as a result of the disruption caused by the volcanic ash cloud, and puts the daily loss figure at £5 million.

The UK-based low-cost carrier says it has had to cancel 4,500 flights, or 85% of its schedule, over the last five days, resulting in a £40 million profit impact up to today.

EasyJet expects its pre-tax result for the six months ending 31 March - a period which preceded the volcanic activity - to be "at the top end of our guidance".