“Oil prices well above $100 a barrel will drive most of Europe’s low-cost airlines out of business, the head of EasyJet’s French subsidiary said on Wednesday.
The stark warning of a cull of low-cost airlines came as the British budget airline’s shares fell more than 4% after another spike higher in oil prices towards $120 a barrel.
“There are currently about 50 low-cost carriers on the European market ???¢?¢?€š?¬?¢?‚¬?? that’s absurd,” Francois Bacchetta, managing director of EasyJet France, told a news conference.”