FX worries and Frontier shake-up

There is much to interest even the most jaded of aviation industry observers today but top of the pile for all should be FX movements today. The ECB has cut interest rates this morning by a quarter of a percent sending Sterling to a ten month high against the Euro. Now this move is s surprise to all and although a quarter of one percent was in the days of normality nothing, today it is quite some move. This surprise move suggests that deflation is far more of a reality in the Euro Zone than one would have thought just