EasyJet shares tumble 14%
EasyJet today is seeing its shares tumble after it announced it had cut fares to encourage passengers on to its planes amid tougher economic conditions and increased competition.
The group, which bought rival Go last May, said for the four months to January 31 its average fare was around 6% lower than the fare generated by the two airlines during the same period in 2001.
EasyJet says the reason was partly competition but had more to do with difficult economic conditions.