EasyJet warns of impact on profits as Iran war hits bookings and fuel prices
Budget airline says passengers are leaving it later to book flights owing to economic uncertainty
TL;DR
- easyJet expects a higher pre-tax loss of £540-£560m for the six months to March.
- Fuel costs have risen by £25m in the last month due to the Iran war's impact on oil prices.
- Customers are booking flights later due to economic uncertainty, shortening the booking window.
- There is a slight shift in demand from the Eastern Mediterranean towards the Western Mediterranean.
- easyJet is confident in its fuel supply and has hedged 70% of its needs for the rest of the financial year.