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The Lycos 50 Blog: News from the Pop Culture Fast Lane
Friday, 8 August 2008
Airline Prices Likely to Soar!

According to the Official Airline Guide (OAG), customers can expect reduced flight availability and seats in the upcoming year. In response to high oil prices and the global credit crisis, airlines are set to cut 59.7 million tickets available in comparison to October-December of 2007. Reduced availability will likely force up ticket prices, routes will be scrapped at 275 airports around the world and 3,500 fewer plans will be needed. America will be hit the worst with a reduction of 20 million seats, while Europe will loose 5.5 million seats. Steve Casley, the chief executive of the OAG, states, “The data speaks for itself. It took a good three years for the industry to recover from the downturn in 2001 when it had 5% drop in capacity and a 7% drop in flights. From our statistics, it looks quite possible that we may be facing a far more severe global downturn than we have experienced before. The industry's resilience will be pushed to its limits in the coming months.”



Posted by lycos50 at 2:09 PM EDT

Friday, 8 August 2008 - 5:50 PM EDT

Name: mikehayne
Home Page:

Good.  A great waste has been occuring for years.  It is the business people that fly each week all over the country.  Moreover, they do not pay personally for this priveledge, their companies pay.  It is a scam.

Monday, 16 March 2009 - 7:55 PM EDT

Name: "phil"
Home Page:

i wonder if the credit crisis will stop people flying, reducing prices as less people book

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