preCharge News BUSINESS — Shares of EasyJet opened 7% lower after the company said strike action by French air traffic controllers and higher fuel prices dented quarterly performance.

The low-cost airline said French ATC industrial action cost the company £15 million ($20.1 million), while fuel accounted for a £10 million hit in the fiscal third quarter ending in June.

“We are extremely unhappy with the strike action by the French ATC in early July, which as well as presenting unacceptable challenges for customers and crew also created unexpected and significant costs for all airlines,” said easyJet CEO Kenton Jarvis in a trading update to investors.

Earlier this month, air traffic controllers in France walked out in protest against staff shortages and ageing equipment, forcing many airlines — even those not flying to or from France — to cancel hundreds of flights.

EasyJet also delivered a headline net profit of £286 million, 21% higher year-on-year, but in line with market expectations.

Analysts suggested investors should look ahead beyond the third-quarter results.

“We see easyJet as well positioned to exceed expectations in 2026 estimate, given continued fuel tailwinds and scope for an increased contribution from easyJet’s own measures to increase profitability (reducing winter losses, upgauging, Holidays growth),” said RBC Capital Markets analyst Ruairi Cullinane.