By Agency StaffBengaluru — Takeover target EasyJet’s third-quarter profit slumped 70% as the Iran war led to volatile fuel prices and made travellers wary, though earnings beat analysts’ estimates and the carrier indicated somewhat clearer skies heading into peak summer. Its shares rose almost 6% on Thursday, recouping some losses after a 12% slump on Wednesday when Reuters reported the EU may tighten airline ownership rules, potentially complicating US investment firms Apollo and Castlelake’s rival bids to take over the budget airline.EasyJet reported an £85m profit for the three months to June 30, a far cry from £286m a year ago as fuel costs soared by £105m but higher than earnings predicted by JPMorgan and RBC analysts.The airline said consumer confidence was increasing into the peak northern hemisphere summer period, pointing to strong demand from travellers booking tickets closer to the date of travel, and kept its annual capacity forecast unchanged.Castlelake has been vying to take control of EasyJet since May, but Apollo entered the fray this month, and the carrier backed its £5.7bn bid, withdrawing support for Castlelake’s lower proposal and setting the stage for a possible bidding war.Disruption wrought by the Middle East crisis, and a potential change to EU airline ownership rules that would prevent foreign investors from gaining effective control of carriers, may pose hurdles to EasyJet’s takeover.EasyJet CEO Kenton Jarvis said the airline had not heard from the EU following Reuters’ report on Wednesday but was open to contact in the future. “We are in constant contact with our regulators ... But right now, without a firm offer, that would be a little premature,” he said.Apollo has until August 7 to make a firm offer or walk away, while Castlelake has until August 3.EasyJet’s shares slumped almost 27% in the weeks following the start of the Iran war but are up roughly 20% for the year so far, supported since the end of May by takeover interest.