Easyjet says airlines at the mercy of oil prices
Date: Wednesday, May 07 @ 13:48:28 PDT
Topic: Business News; Market Research
EasyJet warned that the high cost of fuel will force more airlines to the wall this year as it admitted that profits are at the mercy of the global oil price.
The low-budget carrier reported a 14.7% increase in passengers but admitted that the cost of carrying them had risen by £4 a customer due to the accelerating cost of fuel. Andy Harrison, easyJet chief executive, said the airline was weathering weak consumer spending but the oil price posed a severe threat to its profitability.
Guardian
|
|