Latest news with #fuelcosts
Reuters
5 days ago
- Business
- Reuters
EasyJet warns on profit hit from French air strike, shares slide
July 17 (Reuters) - EasyJet (EZJ.L), opens new tab warned on Thursday that a strike by French air traffic controllers earlier this month and rising fuel costs would hit its annual profit, sending the airline's shares down 8%. The low-cost carrier said it still expects "good profit growth" for the year ending September, but forecast a hit of about 25 million pounds ($33.47 million) from the French strike on July 3 and 4, at the start of Europe's peak travel season, and higher fuel costs. EasyJet reported pretax profit for the third quarter rose by about 50 million pounds to 286 million pounds, in line with expectations. Its shares fell as much 8.1% to 483.3 pence by 0729 GMT and were the top loser on London's blue-chip FTSE 100 index. "We are extremely unhappy with the strike action by the French ATC in early July, which as well as presenting unacceptable challenges for customers and crew also created unexpected and significant costs for all airlines," easyJet CEO Kenton Jarvis said in a statement. Some analysts said they cut forecasts for the year based on Thursday's results. While demand has remained strong for easyJet's budget-friendly flights and holiday packages, travellers overall are taking longer to book tickets amid worsening global macroeconomic sentiment, which the British-based airline said has continued. Jarvis told reporters on a media call that the later booking trend "could have something to do with hot weather" because travellers are waiting to see how heatwaves, which have seen temperatures top 40 degrees Celsius in some parts of Europe, play out. Still, European airlines have continued to report relatively solid results this year, with few signs that travel demand in the summer is substantially lagging last year. Bernstein analyst Alex Irving said the results showed "another reassuringly surprise-free quarter" as easyJet has remained one of the more stable carriers compared to some of its European competitors like Wizz Air (WIZZ.L), opens new tab. Jarvis also told reporters that worsening conflict in the Middle East had had a slight impact on services to destinations like Egypt and Turkey for a few weeks, but that demand has since recovered and the carrier had no plans to change routes as a result of the conflict. Some airlines have cancelled flights to several Middle Eastern destinations, including major international hubs such as Dubai and Doha, and paused or shut operations in the region in the wake of escalating geopolitical tensions. "With 67% of our airline's fourth-quarter capacity sold, the final outcome for FY25 will, as always, depend on late summer bookings and the associated yields," easyJet said in a statement. The airline said it would issue new mid-term targets at the end of the year. ($1 = 0.7470 pounds)
Yahoo
5 days ago
- Business
- Yahoo
EasyJet warns on profit hit from French air strike and fuel costs
STORY: EasyJet forecast an almost $33.5 million hit to annual profit on Thursday (July 17). It said this was due to a strike by French air traffic controllers earlier this month and rising fuel costs. Sending the airline's shares down as much as 8% in early trade. The low-cost carrier said is still expects 'good profit growth' for the year ending September. EasyJet reported that pretax Q3 profit rose around $67 million to $383 million, matching expectations. :: July 4, 2025 Its CEO in a statement voiced unhappiness with the strike actions which 'presented unacceptable challenges'. Some analysts said the carrier cut forecasts for the year based on Thursday's results. Demand has remained strong for easyJet's budget-friendly flights and holiday packages. But travelers overall are taking longer to book tickets amid worsening macroeconomic sentiment. Its CEO said that this trend "could have something to do with hot weather". Positing that travelers are waiting to see how soaring heatwaves in Europe play out.
Bloomberg
5 days ago
- Business
- Bloomberg
EasyJet Third-Quarter Profit Growth Hit by Fuel Costs, Strikes
EasyJet Plc said higher fuel costs and air traffic control strikes have weighed on profit, while predicting capacity will continue to grow, albeit at a slower pace in the second half of the fiscal year. Disruptions from industrial action by air traffic controllers in France have cost the airline about £15 million, while rising fuel expenses have amounted to £10 million, the UK budget carrier said on Thursday. Good profit growth is expected year-on-year despite the £25 million hit.
The Sun
11-07-2025
- Automotive
- The Sun
Our ultimate guide to cutting fuel costs for YOUR car – including 5p off per litre and cheapest time to fill up
PETROL prices are on the rise after several months of price drops. Petrol prices have jumped by 2p a litre since the beginning of June, according to data from RAC's Fuel Watch. 1 The increase comes as millions of motorists gear up to hit the road over the summer holidays. Sun Savers editor LANA CLEMENTS shares her ultimate guide to keeping down your fuel costs. WHAT'S DRIVING UP COSTS? After months of falling costs at the pump, conflict in the Middle East has put pressure on oil prices which impacts how much drivers pay for petrol. The cost of unleaded now stands at 134p a litre, RAC data showed, while diesel prices are at 141p a litre. RAC fuel spokesperson Simon Williams said: 'The arrival of summer has brought some wholly unwelcome increases to pump prices, with retailers wasting no time in putting them up following increased tensions in the Middle East. 'Unleaded and diesel are now both at their highest levels since late April, although we see no reason for further increases as wholesale prices have come back down again and have so far been static in July. 'But given fuel represents a substantial chunk of most households' monthly outgoings, families need to make sure they are making savings where they can.' Last week, the Competition and Markets Authority warned that fuel prices are still too high. It comes ahead of fears that fuel duty could be increased for the first time since 2011 in October's budget. The Sun's 'Keep It Down' Campaign has so far saved motorists £100bn amid long-running battle to keep the duty frozen. FIND THE CHEAPEST PUMP Finding the cheapest forecourt could save you £240 a year. Use or its app to find the lowest fuel costs in your area. Drivers just need to enter their postcode, and the maximum distance willing to travel to find the best prices. You can also check petrol costs at to find the cheapest fuel prices within a five, ten, or 25-mile radius or use the free app MyRAC. Where possible, avoid motorway service stations which usually have the most expensive prices, often up to 20p more a litre. IS A COSTCO MEMBERSHIP WORTH IT? Fuel prices at Costco are often 10p per litre cheaper compared to the national average. The retailer has 29 stores across the UK, with 19 of these featuring petrol and diesel forecourts. To fill up, you need to be a member which costs from £42 a year. Membership is generally restricted to business owners or those in certain jobs such as NHS, as well as local government and education. Some companies also have arrangements that allow you to become a member. But is it worth it? You could've paid for the subscription after seven visits, based on fuel being 10p a litre cheaper. You would need to work out how often you fill up and how the price compares to your local garage. Money expert Sarah Coles from Hargreaves Lansdown said: 'It only works if Costco is nearby or you go regularly for shopping because as soon as you start to make a detour for petrol, you'll quickly start to burn up any saving. 'For the right drivers this is a brilliant saving, for the wrong ones this is a one-way ticket to driving miles for petrol and accidentally buying 12 cream cakes while you're there.' DON'T MISS FUEL DISCOUNTS Drivers can also get 5p off a litre of fuel using Nectar points at Sainsbury's and selected Esso petrol stations. You can earn one point for every litre bought but 300 points can be swapped for 5p off every litre of fuel. You can also earn Tesco Clubcard points and spend vouchers at Tesco petrol stations and Esso sites with a Tesco Express. You get one Clubcard for every two litre of fuel and then vouchers are face value, then 300 points is worth £3 to spend. Motorists can earn one point worth 0.5p per litre spent at BP stations through it's MPme scheme. You can get £2.50 off fuel with 500 points or use it on sites like Amazon. Keep a look out on cashback sites like TopCashback for free fuel offers. They often do £5 free when filling up at supermarkets and petrol stations for new customers. Although, there is usually a £10 minimum spend. IS IT CHEAPER TO FILL UP AT NIGHT? A COMMON myth is that it's cheaper to fill up at night. Garages will adjust prices when it's quiet and may put them up when it's busy, so avoid peak times such as rush hour. Drivers could get a tiny bit extra if they fill up late at night instead of the middle of the day. That's because fuel prices are calculated by volume and you get more when it's cooler at night. Consumer expert Martyn James said: 'The difference is tiny. You'd only save a couple of pennies on a whole tank of fuel. "So it's not worth a midnight trip to save cash.' SIMPLE TWEAKS TO SAVE ON FUEL Subtle adjustments to your car can cut the amount of fuel you use when driving. Clear out your boot and take out unnecessary items that could be weighing down your motor. The heavier your car, the harder the engine has to work to get moving and the more fuel you'll burn. Check tire pressure once a month, as underinflated tyres means you'll use more fuel. Using your air conditioning also increases fuel consumption - but opening windows and sunroofs can also slow your car down and drive up petrol costs. How you drive affects also how much fuel you use. If your car has cruise control, try using it on motorways to keep a steady pace. Newer car models will tell you how much fuel you're using so you can adjust your driving. Google Maps allows you to find the most fuel efficient route when heading out in the car. And if you're at a standstill in traffic for more than a minute, consider turning off the engine to avoid wasting fuel. 'I've saved £100 by filling up at Costco' MUM-OF-ONE Larissa Hazell, 33, has been buying her petrol from Costco for over four years and estimates that it has saved her at least £100. The founder of parent support site The Childcare Guide ( who lives in Baisldon, Essex, save around 10p per litre when filling up, saving them £72 a year or £3 for every full tank of fuel. She believes she saves around 6p per litre. Larissa, who drives a Skoda Rapid, said: "I think the membership is really worth it for the savings you can make on fuel and groceries. 'We fill up the car every time we do our shopping and it's fantastic.' "When petrol prices go up, the potential to save money is even bigger, making it even more worthwhile."
Yahoo
09-07-2025
- Business
- Yahoo
Alabama utility commission allowed to hike prices behind closed doors, judge rules
MONTGOMERY, Ala. (AP) — Alabama's utility regulators can continue to hold closed-door meetings to determine price hikes, in an apparent departure from common practices in neighboring states, a circuit court judge ruled. The decision on Monday rejected a lawsuit filed by Southern Environmental Law Center on behalf of Energy Alabama, a nonprofit that advocates for renewable energy sources. The watchdog group was denied access to two meetings in 2024 where the public service commission decided how Alabama Power — the state's largest electricity provider — should adjust prices based on volatility in global fuel costs. The lawsuit argued the denial flouts both local regulations and regional norms. Montgomery circuit Judge Brooke Reid ruled against the environmental advocates in a one-page order after a hearing in June. She said the group's rights had not been substantially violated. At the June hearing, Reid said the commission's 'interpretation of its own rules should be given deference.' Christina Tidwell, a senior attorney for the Southern Environmental Law Center, blasted Reid's decision in a statement on Monday. 'While other Southern states have meaningful public engagement in fuel cost proceedings, Alabama Power customers will continue to be shut out of the process,' Tidwell wrote. The Alabama Public Service Commission has rules that govern how Alabama Power can change electricity prices to offset increases in fuel costs, which tend to be volatile. Those rules say that the public is entitled to hear evidence and participate in proceedings that adjust fuel costs to ensure these changes are 'just and reasonable.' The lawsuit said there have been only two public fuel cost hearings since the commission's current rules were adopted in 1981. By contrast, the Georgia Public Service Commission, which regulates a sister company of Alabama Power, has held at least 26 public formal fuel cost proceedings, according to the complaint. The last public meeting in Alabama was called because the 2008 financial crisis caused fuel prices to skyrocket rapidly, according to attorneys for the state commission. They argued that the commission hasn't technically initiated a new proceeding since that change 16 years ago, even though rates have been adjusted over 15 times since then, so they are not compelled to invite public input. Attorneys for the state also argued that the public has 'plenty of opportunities for input' even without public meetings, because the commission publishes monthly reports on fuel prices online, and rate changes are subject to public appeal. Alabama Power is a subsidiary of Atlanta-based Southern Company, which reported $4.4 billion in profit in 2024, according to annual shareholder reports. Alabama Power serves about 1.5 million of the state's roughly 5 million residents. Most Alabama residents get electricity through municipal or cooperatively owned utilities. In 2023, the average Alabama Power consumer was paying about $159 per month, compared to the statewide average of approximately $132 per month, according to the most recent data from the U.S. Energy Information Administration. Alabama Power did not respond to an emailed request for comment on Wednesday afternoon inquiring about recent rates. After the ruling, Energy Alabama's executive director Daniel Tait said in a statement that the decision was 'disappointing' for 'Alabamians who have no choice but to pay the high cost of fossil fuels on their Alabama Power bill.' ___ Riddle is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Safiyah Riddle, The Associated Press Sign in to access your portfolio
