By Joanna Plucinska, Elissa Darwish and Corina Pons

LONDON/PARIS/MADRID, May 12 (Reuters) - Greg Abbott is planning his summer holiday with half an eye on the Iran war. He intends to stay closer to home in Europe and is lining up a plan B, wary of rising air fares and cancellations.

The 54-year-old Britain-based Australian is planning a cycling trip with friends in Austria, a festival in Barcelona and possibly a yoga retreat in France. But he doesn't want to go too far and is keeping travel options open.