High oil prices became a serious problem for airline companies: the last company to be hit is no other than the number one European low cost airline, Ryanair. Ryanair director Michael O'Leary announced that this winter the company would close down over 150 flights from Dublin.
Thus, the 1350 weekly flights to and fro Dublin Airport will be cut to 1200. Moreover, Dublin airplanes will be reduced to 18, as four planes will be moved to other locations. After canceling the 150 weekly flights, some 500 Ryanair employees will lose their jobs. The company will also lose some 500,000 clients who would use Ryanair flights this winter.
The move also impacts the airport's economic gains: Ryanair's decision causes the airport to lose some 5 million euro, usually received from taxes. It seems that Ryanair officials took this decision because of the high taxes imposed by Airport officials. O'Leary even announced that the company might move all its activities from Dublin to a low cost airport in Britain.
