Dublin - Ireland's low-fare airline Ryanair warned Monday that it is bracing for red-ink of up to 60 million euros (95 million dollars) in the fiscal 2008/2009 year amid surging fuel costs.

At best, the airline said in presenting first-quarter figures, the company could show break-even results.

Ryanair said that in the first quarter starting April 1, it managed a profit of 21 million euros, plunging 85 per cent from the same quarter a year earlier.

Aviation fuel in the quarter cost the airline 367 million euros, surging 93 per cent from the same quarter last year. Ryanair said fuel now accounts for half of the airline's expenses, compared with 36 per cent a year ago.

Vienna  - Managements consultants are advising Austrian Airlines that Lufthansa would be the best candidate to take over the ailing carrier, the Austrian daily Die Presse reported Friday.

Boston Consulting has been hired by Austrian Airlines' management to evaluate various cooperation scenarios. The consultant's report mentions Russian carrier Aeroflot as the only other viable cooperation partner, Die Presse wrote.

Austrian Airlines expects to end the financial year 2008 with losses between 70 and 90 million euros (110 and 141 million dollars), due in large part to higher fuel prices.

Kochi, July 25 : Jet Airways has announced a special promotional package for Indian students flying to the United States, Canada, United Kingdom, Europe or Asia.

The package is valid for outbound travel on or before October 31, 2008.

Existing as well as new students would receive a whole host of benefits including excess baggage allowance, special fares and a chance to earn 1000 Bonus JPMiles.

Manila, July 25 : Melbourne-bound Qantas Boeing 747 with a large gash i

London  - British budget airline Easyjet warned Thursday that rising fuel costs would result in significantly lower annual profits which it hoped to offset by cutting flights over the winter months.

Easyjet said its annual fuel costs have increased by about 185 million pounds (370 million dollars), as analysts predicted that the company's full-year earnings would be less than expected.

It predicted that annual profits could be up to 42 per cent lower than in the previous financial year.

Though high prices of crude oil has forced domestic airlines players to cut the number of flights and fleet usage, but US aircraft major Boeing is expecting export of more aircrafts to India in the coming years.

Boeing has estimated in its 20-year current market outlook (CMO) that India will need 1,001 new commercial planes worth $105 billion which is 10 per cent higher than the estimate of previous year. It has estimated 911 planes worth $86 billion in last year’s CMO.