EasyJet warns of summer fare hikes amid Iran conflict surge in bookings drop, boss
The head at easyJet has warned that the ongoing war with Iraq is causing a decline in flight reservations and will lead to increased ticket prices by late this year due to rising demand for flights from Europe's Middle East region as passengers seek safety or alternative travel routes amid regional instability affecting summer holiday plans across European markets.
Key Points
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1The CEO of EasyJet warns that the war in Iran is already causing a decline in flight bookings.
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2Soaring oil prices are expected to lead to significant increases in air fares by late summer.
Developments
EasyJet's CEO warned that soaring oil prices will likely cause air fares to rise by end-summer and noted a slowdown in bookings for conflict zones like Turkey while demand remains steady at Spain. The airline has hedged most fuel costs but expects some expenses passed on, alongside the reopening of its Newcastle base which supports over 140 direct jobs and up to one thousand regional roles.