EasyJet profits fall as Apollo bid resurfaces

EasyJet reported a sharp drop in quarterly pre-tax profit to about £85 million as elevated fuel costs and softer demand from the Middle East conflict weigh on earnings, though late bookings showed some improvement heading into peak travel season. The airline is in a bid war between Apollo’s £5.7 billion takeover deal and Castlelake’s rival offer, while management warned that FY26 outcomes depend on volatile fuel prices and remaining bookings.