easyJet reports £126 million loss in Q1 after impact of Middle East conflict

British low-cost airline group easyJet has suffered a loss of £126 million ($160 million) before tax for Q1 2024. Despite the carrier reporting that performance and booking trends remain strong, profits were affected by the ongoing Israel-Hamas conflict. Tensions exploded on October 7, 2023 after conflict escalated in the Gaza Strip. easyJet initially suspended flights to Israel and Jordan, although the latter services have since been reinstated. However, the airline reported that the impact of pausing these flights cost the company £40 million ($51 million). The conflict has also led to a slowdown in flight bookings across the wider aviation