Upper Crust owner SSP cuts profit forecast as weak US summer travel and Middle East conflict hit passenger numbers

From the Newshound archive · first published 9 October 2026.

Budget-conscious American travellers pulled back on holidays after airlines raised ticket prices to absorb soaring fuel costs, while the conflict in the Middle East weighed on passenger numbers across the Gulf, Asia Pacific and Eastern Mediterranean. Shares dropped 5% when markets opened on Friday. The UK and Ireland provided some offset, with fourth-quarter like-for-like sales up 9%.

SSP chief executive Patrick Coveney said the Middle East conflict had a 'significant impact' on passenger volumes but insisted the group remains on track to meet full-year earnings-per-share expectations.

Gulf market passenger volumes have partially recovered to 90% of prior-year levels, but surrounding regions including Eastern Mediterranean and Asia Pacific remain subdued.

American Airlines, United Airlines and Southwest Airlines have all cut services to manage higher fuel costs, reducing the flow of passengers through SSP's airport outlets.