Easyjet issues summer holiday fuel supply update as fall in bookings blamed on Iran war

EasyJet’s chief executive has sought to reassure passengers, stating the airline is "not seeing any disruption to fuel supply" despite ongoing concerns over the Iran oil crisis.

Mr Kenton Jarvis urged customers to "book with confidence" amid fears that UK holidaymakers could face flight cancellations due to potential fuel shortages.

The wider aviation industry has seen some airlines reduce their schedules recently, a direct consequence of a surge in jet fuel prices. This spike is largely attributed to Iran’s control over tankers navigating the Strait of Hormuz. However, the impact on flights operating to and from the UK has remained minimal thus far.

EasyJet said it intends to “operate the full summer schedule on sale” and it has “normal supply visibility” for the next four weeks.

Mr Jarvis commented: “EasyJet is not seeing any disruption to fuel supply.

“We continue to operate normally and our customers should book with confidence, taking advantage of our great value fares.”

Asked about the issue in an interview on BBC Radio 4’s Today programme, he said: “We stay in very close contact with our fuel suppliers, airports, governments, and they are equally raising no issues looking forward.

“What is true is obviously there’s a lot less oil coming from the Gulf region, but fuel suppliers have successfully diversified, with production increased in Norway, in West Africa, in the Americas, and refining capacity for jet fuel has also increased substantially outside of the Gulf region.”

He added: “I would absolutely say don’t panic about it. At easyJet, we fully intend to fly the summer schedule that we have on sale, and we also have a ‘book with confidence’ promise that we will not put fuel surcharges on, so once you’ve booked, that will be the price you pay.”

EasyJet reported that bookings for summer flights are lower than the same point last year because of uncertainty caused by the conflict in the Middle East.

The airline said it has sold 58% of its seats for the six months to the end of September, down two percentage points from a year ago.

But short-notice bookings in the month of departure are up year-on-year.

The group reported a half-year pre-tax loss of £552 million, which is in line with the range it gave in a trading update in April.

That is compared with a loss of £401 million a year ago.

EasyJet warned that its finances up to the end of September will be impacted by the war, which is causing higher fuel costs and “near-term uncertainty around customer demand”.

The group said last month the conflict cost it about £25 million in higher jet fuel prices in March.

Mr Jarvis said: “Despite conflict in the Middle East creating near-term uncertainty, easyJet is well placed to manage the current environment, supported by one of the strongest investment-grade balance sheets in European aviation.”