economy
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.