Ryanair, BA to cut flights as fuel costs begin to bite

DUBLIN/LONDON: Ryanair and British Airways will cut flights next winter due to the rising cost of fuel which is threatening to wipe out their profits this year, the two companies said yesterday.
Ryanair, Europe’s biggest budget airline, said it would cut weekly flights at Dublin by 12% this winter and it would also cut some at Stansted in the UK.
Separately, British Airways said it expected to reduce capacity by 3 to 5% in its winter season.
BA chairman Martin Broughton said the airline is looking at extra fuel costs this year of more than £1bn ($2bn), which is more than last year’s record profit of £875mn.

More info can be found here:
http://www.gulf-times.com/site/topics/a ... rent_id=28