Conor Pope

And those flights are 80% full.

What they would probably do first is they'd cut it back to eight flights going into Malaga and make sure all eight flights were 100% full.

Okay.

So that's the first thing they will do.

Those so-called fat routes, the really, really busy routes will be targeted.

The next thing they would do is they would look to the least profitable, least busy airports around Eastern Europe, for example, during the summer months.

And they would say, OK, well, we only have 30% of that particular flight booked going to, and I'm going to pick a random city, Gdansk.

So we only have 30% booked on that flight.

We'll cancel that one next.

I'm not suggesting they are going to cancel that flight, but what they will do is they will target the least busy, least profitable routes.

Because you've got to remember, airlines are in the business of making money and they don't want to cancel flights.

They don't want to leave people stranded in...

Faro or they don't want to leave people stranded in Madrid or Barcelona or wherever it might be.

Because that costs them money.

Because it costs them money.

So they will do whatever it takes to get people to and from their destinations over the course of the summer.

But as I say, the picture for the winter months and beyond is very different because one of the ways the airline industry works is they, like the domestic energy markets, they hedge their fuel purchases.

So Ryanair, for instance, would have bought maybe 75 or 80% of its fuel needs

for the months ahead and paid around $70 a barrel for the jet fuel.

So they're okay for the months ahead, but jet fuel might now cost $150 a barrel.