EasyJet, the UK's leading low-cost airline, has maintained its forecast for a 20 per cent increase in underlying pre-tax profits in its financial year to the end of September, in stark contrast to the profit warning issued this week by rival Ryanair.

The Irish carrier, the largest no-frills airline in Europe measured by passenger numbers, had warned that higher oil prices, weakening consumer sentiment and the strong risk of recession could lead to a sharp decline in its profits in the year to March 2009 - possibly by as much as 50 per cent.