EasyJet, the budget airline, has projected a pre-tax loss of £540-£560 million for the six months ending March 2024, a significant increase from the £394 million loss reported in the previous year. The airline's financial woes are attributed to rising fuel costs, which have surged by £25 million in just one month due to the ongoing conflict in Iran. Each $100 increase in the spot price of jet fuel adds approximately £40 million in costs for unhedged supplies, and current prices are about $800 higher than pre-conflict levels. Despite these challenges, EasyJet's CEO, Kenton Jarvis, noted that demand remains strong, although customers are delaying bookings due to economic uncertainty. He reassured stakeholders that fuel supplies are stable, having hedged 70% of their needs for the financial year ending in September. Shares of EasyJet fell by 3% in early trading following the announcement, reflecting investor concerns over the airline's financial outlook amid the volatile market conditions.