EasyJet is cutting thousands of flights from its winter schedule as airlines struggle with soaring fuel costs following the outbreak of war in Iran.
The budget carrier will remove a further 700,000 seats from its winter capacity, equivalent to around 3,500 flights, on top of reductions of the same size announced earlier this year.
Jet fuel prices nearly doubled following disruption to supplies through the Strait of Hormuz and, although prices have eased, they remain significantly above airlines’ expectations.
EasyJet chief executive Kenton Jarvis said: “People are taking capacity out, we see that across all competitors,” adding that the reductions were “no surprise” given persistently high fuel prices.
Rival Ryanair has cut its winter schedule by as much as 4%, with chief executive Michael O’Leary warning: “We are all facing an enormous cost challenge next year.”
Industry body Iata estimates that higher jet fuel costs will hit the global aviation sector by $100bn (£75.7bn) this year, with several airlines already entering bankruptcy and others reducing capacity to protect profitability.