EasyJet has revealed a 70% slump in profits due to soaring fuel costs and lower bookings caused by the Iran war just weeks after agreeing in principle to a £5.7 billion takeover approach.
The budget airline reported pre-tax profits tumbling to £85 million in the three months to June 30 from £286 million a year earlier, with fuel costs rising by £105 million after the Middle East conflict sent energy prices rocketing.
