EasyJet profits drop 70% to £85m after Iran fuel spike
EasyJet just saw its profits crash by 70% this spring, dropping to £85 million from £286 million last year.
The main culprit? A huge spike in fuel prices after the Iran conflict in February 2026, which pushed up costs by £105 million.
On top of that, more travelers are waiting until the last minute to book flights, making things even tougher for the airline.
EasyJet board backs £5.7bn Apollo takeover
EasyJet's board is backing a £5.7 billion takeover bid from Apollo Global Management, beating out a previous offer, but European Union rules about local ownership could make things tricky.
Shares took a hit when stricter regulations were announced but bounced back a bit on July 23.
Meanwhile, Ryanair is also feeling the heat with profits down 34%, showing it's not just EasyJet struggling with rising costs across Europe.