EasyJet warns Iran war to hit summer bookings, deepen first-half loss
The airline said the conflict has lifted fuel costs by £25 million and cut summer bookings by 2%, adding pressure to profits.
- On Thursday, April 16, 2026, EasyJet warned of a headline pre-tax loss between £540 million and £560 million for the six months ending in March, citing impacts from the Middle East conflict.
- The US-Israeli war with Iran sent jet fuel prices soaring as much as $200 a barrel, contributing an additional £25 million in fuel costs for the airline last month.
- Shares fell 9% before settling 3% lower after the carrier recorded a £30 million net increase in legal provisions "across a number of historic cases" alongside the projected earnings decline.
- EasyJet Chief Executive Kenton Jarvis stated the airline is "well placed to navigate current geopolitical challenges" while maintaining £4.7 billion in liquidity to support operations.
- Summer bookings are down two percentage points compared to last year, with customers reducing interest in trips to Turkey, Egypt, and Cyprus amid lower forward visibility.
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