Easyjet shares sink as it warns of widening losses

Shares in Easyjet have slumped more than 13% after the budget airline warned that higher fuel costs could double half-year losses.

It estimated that the loss from October last year to March this year would be between £140m and £160m, compared with a loss of £78.7m a year earlier.

Despite this though the airline said revenue in the final quarter of 2010 grew 7.5% to £654 million, while passenger numbers were up nearly 9%

Airline analyst, John Strickland told the BBC the airline would be looking to make up for its loss over the summer.

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