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Ryanair hit by the high oil price, at ground 20 airplanes in the next Winter

Dublin, Ireland - From November 2008 to February 2009

Irish low-cost airline Ryanair is planning to ground around 20 aircraft next winter to counter the impact of spiralling oil price (today at 117.4 dollars a barrel). Ryanair is embarking on an intensive cost-cutting drive for its 2008-09 financial year (from November to February) as its fuel costs threaten to widen by € 300 million, pushing its profits down by up to 50%. Ryanair deputy CEO Michael C...

AVIONEWS - World Aeronautical Press Agency - 1088643
Rome, Italy, 04/21/2008 18:28
AVIONEWS - World Aeronautical Press Agency

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