Today’s oil prices show a slight dip (Brent Crude Oil: $117.99 a barrel) but they remain high and are a significant concern for all airlines. Ryanair’s Michael O’Leary reports failing profits today on the back of high fuel costs and predicted that they would have to cut routes over the winter schedule as a consequence. He also suggested that there would be more airline failures this year as some carriers bow to the pressure of such weighty fuel costs. Even though Ryanair is partially protected from fuel spikes being 80% hedged, and hedge savvy carriers such as Southwest Airlines continue

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