EasyJet said it took on roughly £25 million in additional fuel costs in the first half of 2026 due to the Middle East conflict.
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EasyJet
’s stock fell on Thursday after the European airline warned the Iran war and higher fuel prices are weighing on customer bookings.
The group said it took on roughly £25 million ($34 million) in additional fuel costs in March alone as global oil prices soared, and it expects airline costs to remain tied to volatile fuel prices over the coming months.
Shares dropped as much as 8.7%, before paring losses to last trade down 3%.
Airline has hedged much of fuel into 2027, avoiding soaring prices, but costs likely to hit passengers by end of summer
Airlines have reduced services and lifted ticket costs as the Iran war weighs on jet fuel costs.
Disruption to supplies from the Gulf due to the Middle East conflict has pushed the cost up by more than 80%.
Global airlines sounded the alarm over soaring jet fuel prices triggered by the U.S.-Israeli war against Iran.
Fuel typically accounts for 20% to 25% of an airline’s operating costs, making it the second-largest expense after labor.
Airlines are putting up prices and cancelling flights in response to higher jet fuel prices.
