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Old 04.02.2008, 11:12
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Re: Low Cost Airline - 1p Seat Give Away Con ??!!

All is not rosie for the budget airlines

Ryanair has warned that its profits could be halved this year as fuel costs rise and as the UK pound weakens.
The warning came as the budget airline reported that net profit dropped 27% to 35m euros ($52m; 26m) during the October to December quarter.

He said that the company had not taken out protection, known as hedging, against the oil price or weak pound. "We remain essentially unhedged for next year," the budget airline said.
It's not mentioned in this story but BBC news this morning also commented on their very low seat utilization so apparently even 1P seats are not helping,
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