Easy Jet with 80% jet fuel hedging policy is projecting higher losses for period ended 31/3/26. With jet fuel spot prices higher by more than 2x Pre Middle East conflict, just imagine the QRs for period ended 31/3/26 and ending 30/6/26 when jet fuel prices stay elevated and flights starting to be grounded or cancelled from May 2026 due to high fares & fuel surcharges amidst the soaring jet fuel prices and demand destruction. In addition, AAX has Zero jet fuel hedging policy and advance tickets purchased at lower prices would have been fully utilised by April 2026. Very tough indeed for the aviation sector in 2026 as cash burnt will be huge unless they have huge funding options going forward. Just look at USA Spirit Airlines !