Tumbling airfares test nerves as low-cost carriers push for growth



When Ryanair boss Michael O'Leary promised on Tuesday to pump a million seats a month into a weak winter market and slash fares by 15 percent, he was ramping up pressure on rivals -- and on investors struggling to see an end to Europe's price wars.
Since Britain voted in June to leave the European Union, the environment for the continent's airlines has been rapidly deteriorating, wiping a quarter off the sector's market capitalisation and triggering a string of profit warnings.
But executives across the sector have stubbornly resisted cutting the number of tickets on offer to raise prices,... read more

 
18 October 2016 in Business, Views: 54
Source: Reuters
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