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  Bad news:

  EasyJet shares nose-dive on profits warning

  No-frills airline EasyJet has warned investors that its profits may be lower than expected this year, despite earlier more optimistic forecasts. 

  The shares plunged 16 per cent this morning to 315p.

  Europe?s biggest budget airline said that a potential ?45 million rise in fuel costs could hit its full year results.

  Chief executive Andy Harrison said the recent ?unprecedented? rise in fuel prices, with oil over $110 a barrel this week, has hit the airline hard.

  http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article3581162.ece

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