EasyJet's profits drop 70% with rising fuel costs

EasyJet reported a 70% decline in pre-tax profits, totaling £85 million between April and June, primarily due to increased fuel costs and later passenger bookings amid the Iran conflict. The airline's profit drop follows a surge in fuel expenses after hostilities in the Middle East led to rising energy prices. Despite the profit decline, easyJet's shares increased slightly as consumer confidence grew during the holiday season, while uncertainty regarding its potential acquisition by US investment firms and EU ownership reviews continued.

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