EasyJet profits plunge 70% as fuel costs soar amid Iran war
EasyJet reported a 70% drop in pre-tax profits due to rising fuel costs linked to the conflict in Iran and a shift in booking patterns. The airline is currently the subject of potential acquisition bids from two US investment firms.
Why it matters
The profit decline illustrates the vulnerability of the aviation industry to geopolitical instability and fluctuating energy prices.
EasyJet reported a pre-tax profit of £85m between April and June compared with £286m during the same period a year earlier. EasyJet reported a pre-tax profit of £85m between April and June compared with £286m during the same period a year earlier. easyJet EasyJet profits plunge 70% as fuel costs soar amid Iran war Budget airline, which has two US investment firms vying to buy it, also affected by passengers booking later
Prefer the Guardian on Google The low-cost airline easyJet has revealed a 70% slide in profits because of soaring fuel costs and later bookings as a result of the conflict in Iran , only weeks after it agreed to a £5.7bn takeover.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in