Source: Financial Times, 26 July 2011

Ryanair has scaled back its expansion plans in the face of high fuel prices and expects a wave of deal-making as weak airlines seek wealthy backers.

With airlines facing $100 a barrel oil, the low-cost carrier said there would be a period of consolidation in which four large airline groups would dominate the continental market in a few years. Fuel cost Ryanair €140m more in the three months to June than in the same period a year ago, a 50 per cent increase.

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