Everyone wants a bit of the action:
- Debt-laden Eurotunnel to slash costs and capacity
Eurotunnel’s revenues have never met its own projections because usage of the tunnel has been far below its expectations. Its trucks business continues to be hit by competition from ferry operators, while many potential car users take the ferry or leave their cars and use low-cost airlines instead.
- P&O to slash workforce by 1,200
The group announced the closure of four of its 13 ferry routes and cut eight ships from its fleet…
…The company has been losing business in the face of rising competition from no-frills airlines and Eurotunnel
- Ryanair reiterates budget ‘bloodbath’ warning
Ryanair, Europe’s largest discount airline, today said there were already signs of the “bloodbath” it had predicted for the winter months as budget airlines cut their fares.