You are hereArchive - Jun 7, 2008

Archive - Jun 7, 2008

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I can never fear that things will go far wrong where common sense has fair play. - Thomas Jefferson

I can never fear that things will go far wrong where common sense has fair play.

— Thomas Jefferson

Airline industry in crisis - impact of Iraq War: oil prices skyrocket non-stop, surge to record $139/barrel and soon to hit $150

oil prices surge to record level of more than $139 a barrel on Friday

(quote)

Oil prices surged to a record level of more than $139 a barrel last Friday, following analysts’ predictions that the price will soon hit $150 and could go as high as $200.

Ryanair boss Michael O’Leary said he expected several European airlines to go out of business thanks to high oil prices.The industry would restructure into a handful of strong players, he said. O’Leary predicts that just three European “network” airlines - British Airways, Lufthansa and Air France/KLM - will survive, and one low-cost airline, Ryanair. Budget rival Easyjet would be bought by one of the big three, he said.

United Airlines to reduce fleet by 100 planes and workforce by 1,600 workers

United Airlines, a unit of UAL symbol, said Wednesday it will close Ted, a low-fare airline within an airline, in 2009 and reconfigure its 56 A320 aircraft with first-class seats. Ted serves leisure destinations from Denver and other United hubs.

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