But from the pile of horse-puckey that is BBC News gleams a speck of gold: advice on how businesses must survive recession. Participating in a price war isn't the way to do it, since you make yourself vulnerable to misfortune, such as the 44% increase in fuel costs (and tightening bank credit) that did for XL. No, here's their three valuable tips:
- Go for custom with higher profit margins, like BA's focus on business class flights.
- Hold lots of cash, like Ryanair.
- Cut costs, like Flybe with their modern, larger, more fuel-efficient craft.
Things are a little different from the consumer's point of view, of course. We came back from Dublin a few years ago on a certain airline, and the electrics failed before takeoff. They fiddled with them for a bit, then we flew to Birmingham, where they promptly failed again just as we were taxiing to the terminal.
Good job they hadn't failed halfway across the Irish Sea, or we'd have been up there all day.