Wednesday, June 4, 2008

Ryanair Full Year Results

For those interested in what the future may hold for the price of flight tickets based on the rising cost of oil then the announcement of Ryanair's end-of-year results yesterday may prove interesting, if not entirely uplifting.

All you need, as usual, is Mick O'Leary's comment: "I've now come to the view that I hope oil does stay at $125 or $130 a barrel during the winter because I think that will bankrupt half of the airlines flying today, in which case we'll still be the lowest-fares airline in Europe, bur our fares won't be €40 a passenger, they might be a little higher."
I suspect they may be not a little, but quite a lot higher Mick. I doubt very much if you're going to sit and watch your airline make no profits while travellers still avail of low fares. Less competition changes the game for everyone and those left standing can name their price.

You can find the full article here.

Aer Lingus' decision to hike fuel surcharges to the US again today will not fill the market with much cheer either. See full story here.

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