Everyone in the analysis game seem to think the floor will be reached soon with regard to how low the oil price will go.
But in a 'free' market, I see no reason why the price couldn't fall to $20-30 a barrel - oil isn't the best-loved or most required commodity right now. Tensions in the ME no longer carry a premium on the price. And with fracking/shale, the US no longer requires to import, leaving oversupply.
Great for industry in general... not great if your industry is oil.
However regardless of price, I always thought cuts were coming down the line anyway.
I agree with Harry's sentiments, I fear. Serious belt-tightening ahead.
Re Flybe, local paper this morning saying they may announce one further domestic route, as well as Scandi opportunities.