Are Cheap Flights to India Affected by BA Announcement?
Are cheap flights to India still available in view of the huge increase in oil prices? Combined with the economic slowdown and lack of consumer confidence, it seems that troubled times lie ahead for the industry. I guess it came as no surprise to most people that British Airways announced a big fall in it’s first-quarter pre-tax profits. BA’s pre-tax profit for the period from April to June 2008 was down to £37 million compared to £298 million for the same period last year. In response to this the company announced that it will have to raise fares and cut capacity on it’s winter schedule. Lufthansa has reported a 59% drop in its first half year net profit, falling from 992 million euros last year to 402 million euros in the January to June period this year. Staying with the gloom, budget airline Ryanair reported last Monday that its quarterly profit had dropped by 85 percent. A company official stated that this could result in the first annual loss for the company since 1990. It is lik
