Airline bullish on oil hike

AER Arann said it is well placed to cope with oil costs of more than $130 a barrel. The airline, which now serves six countries said its fuel hedging strategy and fuel-efficient aircraft have protected it adding that its aircraft have the best fuel economics in the airline industry.

It said its ATR 723 and 42 aircraft use 70% less fuel consumption than a plane on similar routes and use as much fuel flying 230 miles as a Boeing 747 consumes in 10 minutes of taxiing.

"As a result, Aer Arann is better insulated from the fuel price spike than other airlines," said managing director Garry Cullen.