EasyJet summer holiday bookings down on last year amid Iran war uncertainty
Summary
EasyJet says fewer people have booked summer holidays compared to last year because concerns about the Iran war have made travelers hesitant. The airline spent extra money on fuel after the conflict began but expects to operate its full summer schedule without cancellations.Key Facts
- EasyJet’s summer bookings are lower than at the same time last year due to worries about the war in Iran.
- The airline had to spend an extra £25 million on jet fuel in March after the US and Israel’s conflict with Iran started.
- EasyJet has not faced any problems getting fuel and expects no flight cancellations this summer.
- Customers tend to book trips closer to the travel date rather than well in advance.
- The company has locked in prices (hedged) for 72% of its fuel for the next six months but paused short-term hedging because fuel prices are high.
- EasyJet reported a £552 million loss before tax for the six months ending March, worse than the previous year’s £394 million loss.
- The airline raised its minimum ticket prices to cover increased fuel costs and is reviewing other expenses.
- EasyJet reduced its summer seats by a small amount after the conflict began but now plans to fly its full schedule.
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