Oil surge to cause &#39;bloodbath&#39;, says Ryanair
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The strength of oil prices is poised to exacerbate an airline &quot;bloodbath&quot; long predicted for this winter, Ryanair has said, announcing a profits ahead of City forecasts.
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World oil prices have shot to record highs as concern grows about even more expensive fuel at the petrol pumps. In London, Brent North Sea crude oil for delivery in November surpassed $50 a barrel for the first time in the contract&#39;s 16-year history.
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Oil surged above $70 on Monday on news a cyclone was headed towards the oil-producing Arabian peninsula with a potential to disrupt shipping and output.
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Air New Zealand will most likely announce an increase in its jet fuel surcharges within days because of the relentless climb in oil prices, the carrier&#39;s chief executive, Ralph Norris, has said.
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Irish budget airline Ryanair's dawn raid  on rival Aer Lingus this week has prompted a flurry of  political finger-pointing, with the government under fire for  its decision to privatize the carrier.
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Irish budget airline Ryanair has hiked profits guidance for the 2006/2007 financial year, thanks to weakening crude oil prices and rising passenger numbers.
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Geneva - The world&#39;s major airlines were expected to rack up about $4.8 billion (R27.3 billion) in losses this year and would climb back to profit next year only if oil prices fell, the top industry body said yesterday.
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Oil prices continue their record-breaking run as fresh threats of sabotage in Iraq boost concerns that demand may outstrip supply.
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Ryanair chief executive Michael O&#39;Leary claimed yesterday that rising oil prices would benefit the airline, as he announced better than expected half-year profits.
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Oil prices surge to new highs in Asia and London amid concerns over winter fuel shortages.
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The threat of a lock-out by Norwegian shipowners which would halt production at the world&#39;s third-biggest crude producer has sent oil prices to record highs.
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Air passengers are set to pay for record oil prices as airlines move to increase ticket prices. Qantas said yesterday it would increase the fuel surcharge it includes in the cost of tickets and Air New Zealand is expected to follow.
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Oil prices hit fresh record levels after Norwegian ship owners threaten to cut off supplies from the world's third biggest exporter.
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A 240 million US dollars (Â£126.75 million) investment by budget airline Ryanair in the west of Ireland sticks two fingers up to the doom-mongers who said Shannon Airport would not work, it was claimed tonight.
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British Airways said on Wednesday that it would raise its fuel surcharge on long-haul airfares because of high oil prices.
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Business & money: Motorists set to face higher prices at petrol pumps after cost of oil surges above $79 a barrel.
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Irish low-cost airline Ryanair warned on Monday that its profits could be slashed next year after reporting a 27-percent plunge in third-quarter earnings owing to rising fuel prices.