For airlines, at least, those savings "clearly offset any reduction in fares consumers are getting online," said Steven G. Casley, a founder of BACK Aviation.
Revenues fell by 13.7% to £4.1bn, in line with a reduction in fares as BA scrambled to maintain demand, including the all-important business-class customers who generate the majority of its profits.
As part of its energy-saving measures — the first such response by a European government to the turmoil in the Arab world — the government also said it would order a 5 percent reduction in fares on commuter and middle-distance trains to encourage more use of public transportation.
Update: The reduction in fares is expected to go into effect on June 12.
Reductions in fares, he said were a natural and inevitable result of trying to lure people back onto planes after the terrorist attacks.
Mr. O'Leary pointed to a "general underlying weakness in the marketplace," which he said Ryanair had decided to address with aggressive reductions in fares and by grounding more of its aircraft through the winter.
The mayors of Cuiaba, Recife, Joao Pessoa and other cities have already announced a reduction in bus fares in response to Monday's protests.
The mayors of Cuiaba, Recife, Joao Pessoa and other cities have already announced a reduction in bus fares in response to Monday's protests, which saw more than 200,000 people take to the streets in more than a dozen cities.
Technological improvements will take a long time for development, while the operational change is most near-term, could lead to significant reduction in air fares in the face of much higher oil price, but it may not achieve a significant option given the fast increase in air travel demand.
O'Toole said he believed Virgin had failed to exploit the possibilities to attract customers on to the trains in quieter periods, and promised a 15% reduction in standard anytime fares over the next two years, a pledge that would see the price of a £148 single from London to Manchester drop by around £22. Overall, fares are set to rise above inflation every year for the foreseeable future.
