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348 comments on DrumBeat: July 24, 2008

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Violinist on July 24, 2008 - 9:43am Permalink | Subthread | Parent | Comments top

Low-cost airlines are also still getting battered.

Easyjet plans cuts as costs bite

Budget airline Easyjet will cut flights over the winter to offset a challenging economic climate and the high fuel prices that have dented profit growth.

Easyjet said its annual fuel costs have increased by about £185m. As a result, its full-year earnings will be less than many analysts had been expecting.

It will cut capacity at Stansted by 12% over the 2008/2009 winter. Easyjet shares fell 3% in London on the news.

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SamuM on July 24, 2008 - 12:00pm Permalink | Subthread | Parent | Comments top

Same thing at Ryanair:

British Airways Plc, Ryanair Holdings Plc and Air France-KLM Group had their earnings estimates cut by analysts at Merrill Lynch as fuel costs increase and demand for air travel slows.

And they still continue their price obsfucation shenanigans.

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348 comments on DrumBeat: July 24, 2008

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