Airline has hedged much of fuel into 2027, avoiding soaring prices, but costs likely to hit passengers by end of summer
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The boss of easyJet has said the war in the Middle East has started to hit flight bookings, while the soaring price of oil would probably mean a rise in air fares by the end of the summer.
The chief executive, Kenton Jarvis, said that while the airline had hedged much of its fuel into next year, avoiding soaring kerosene prices, it was “unavoidable” that some of the costs would be passed on in fares.
He said forward bookings for summer had started to slow. With their proximity to the conflict, flights to Turkey, Cyprus and Egypt had been hit by the biggest drop in bookings, Jarvis said, and passengers had instead turned to the “usual suspects” of Spain, Greece and Portugal, which were “holding up pretty firmly”.
