Investing in airlines isn't for the faint-hearted - especially right now. Shares in budget carrier easyJet (EZJ) have halved in 2016, with a profit warning this month adding to various other pressures.
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Foreign exchange rate movements will have a £90m impact for the fiscal year to September 2016 compared to the prior year - up a massive £35m since the 23 June referendum. But costs per seat, excluding fuel, should fall 1.1 per cent on a constant currency basis and its fuel hedging strategy means it will be paying roughly $200 a tonne less in fiscal 2017 compared to its 2016 financial year.
