Discount airlines look to profit in tough times

10/13/2008 | Bloomberg

European discounters EasyJet and Ryanair say they stand to benefit from falling oil prices and weaker demand, putting additional pressure on mainline carriers with more frills built into their pricing. "In a world where all you can see in the papers today is about the credit crunch and cutbacks, you can see that EasyJet is doing incredibly well," says EasyJet CEO Andy Harrison. It's a phenomenon that's not restricted to Europe, according to Southwest Airlines co-founder Herb Kelleher. "The tighter money is, the more people look for bargains, and we're the bargain," he said at a conference last month.

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