EasyJet takes £25m hit on surging fuel costs amid Middle East war [Yahoo! Finance Canada]
EASYJET PLC S/ADR (ESYJY)
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Source: Yahoo! Finance Canada
The Luton-based airline said it expects to report a headline loss before tax of between £540 million and £560 million for the six months to the end of March. Oil prices – which have a significant effect on the cost of jet fuel – soared in response to Iran's stranglehold on tankers passing through the Strait of Hormuz. The war has introduced “near-term uncertainty around fuel costs and customer demand”, easyJet reported. Bookings are down two percentage points for the three months to the end of both June and September compared with a year ago. The warning over bigger-than-expected first half losses saw shares in easyJet fall as much as 9% in early trading on Thursday, before settling about 4% lower. Kenton Jarvis, easyJet chief executive, said: “Our H1 financial performance worsened year on year, impacted by the conflict in the Middle East and the competitive environment in some markets. “Following our busiest Easter holiday period ever, the operational ramp up into peak s
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News
- Airlines cut flights as Iran war sends jet fuel costs soaring [USA TODAY]USA TODAY
- EasyJet says first-half loss to deepen on Mideast war [Yahoo! Finance]Yahoo! Finance
- EasyJet's stock drops as the Middle East conflict, fuel costs weigh on bookings outlook [CNBC]CNBC
- Britons cut back on foreign holidays for first time since pandemic [Yahoo! Finance Canada]Yahoo! Finance Canada
- easyJet (ESYJY) was downgraded by Sanford C. Bernstein from "outperform" to "market perform".MarketBeat