easyJet profit falls 70 percent on war driven fuel costs, with pre tax profit down to 85 million pounds

British low cost carrier easyJet said on Thursday, 23 July 2026, that its headline pre tax profit for the three months to the end of June fell 70 percent to 85 million pounds, from 286 million pounds a year earlier.

Group revenue rose 2 percent over the period to 2.98 billion pounds, but fuel costs climbed 17 percent to 732 million pounds, an increase of 105 million pounds year on year. The airline said jet fuel prices for its unhedged requirement peaked at around $1,800 per tonne in April. Revenue per available seat kilometre fell 3 percent, passenger numbers were broadly flat at 25.8 million, and the load factor dropped 1.3 percentage points to 88.9 percent.

easyJet said bookings weakened after the outbreak of the war and were only partly offset by strong demand from customers booking close to departure. The results show the other side of higher oil prices: the same surge that has lifted oil company earnings is weighing on the costs of fuel consuming industries.