FlashFeed

EasyJet profits drop 70% to £85m as Iran war drives fuel costs up by £105m

EasyJet reported a 70% fall in pre-tax profit to £85m for April–June, down from £286m a year earlier, as fuel costs surged by £105m following the outbreak of conflict in the Middle East in late February. Later passenger bookings further complicated capacity planning for the budget carrier. The airline is also at the centre of a £5.7bn takeover battle between two US investment firms.