EasyJet, a British budget airline, has warned of a larger first-half loss of £540 million to £560 million ($733 million to $761 million) due to the ongoing conflict in Iran, which has led to uncertainty in fuel costs and customer demand. The airline's shares dropped by as much as 9%, reflecting concerns across the budget airline sector. EasyJet's Chief Executive, Kenton Jarvis, noted that travelers are booking closer to their travel dates, resulting in lower visibility for future bookings. The airline's summer bookings are currently at 63% sold for the third quarter, down from 65% last year. The rising jet fuel prices have forced airlines to raise fares and reconsider growth plans. EasyJet has hedged 70% of its summer fuel at $706 per metric ton, providing some short-term price protection, but higher costs could impact fares if fuel prices remain elevated. The airline's liquidity of £4.7 billion will aid in navigating these challenging conditions.