End of cheap flights predicted as oil prices rise

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End of cheap flights predicted as oil prices rise

Cheap flights could come to an end as airlines raise their fares over oil costs, the Times reports.

A ten per cent increase on ticket prices is expected this year, with oil having doubled in value over the past year.

Carriers are expected to raise fares and slash the number of flights, with some predicted to go out of business.

According to the paper, analysts say a ten per cent rise in fare increases brings a 6.5 per cent drop in passenger numbers.

This means a 20 per cent fare rise over two years would price five million passengers out.

Douglas McNeill, a transport analyst at City stockbrokers Blue Oar, told the Times: "Fares are clearly going up and will continue to do so for the foreseeable future."

Tesco has found that almost 63 per cent of British holidaymakers abroad do not set daily limits for spending.

Britons are also carrying money in their underwear and in bum bags for security while on holiday.
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