Oil prices cause easyJet to cut Stansted flights
Fri, 25 Jul, 2008
Budget airline easyJet is to slash flights in response to high oil prices, it has been reported.
The carrier is to cut more than one in ten of its flights from London Stansted Airport this winter, in an attempt to make its business more profitable.
In the last three months passenger numbers have grown 16 per cent but easyJet said fuel price rises had hit the firm for £185 million.
"In the current environment, flexibility is vital and easyJet continues to review its schedule and may make further adjustments," the company stated.
Last week, Ryanair announced the closure of seven European bases and a cut of 250 flights from London Stansted.
Like easyJet, it blamed oil prices but also high airport fees.
Previously, Ryanair had warned that if the price of oil topped $130 a barrel, the carrier would start to make a loss.
Oil prices recently peaked at $147 a barrel, but have now fallen to about $127.