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Key Point: No frills travel

Bankruptcy (noun): When a company is no longer able to function.

Airlines are quickly transforming through hyper competition and a very aggressive travel market which is cutting into profit margins. Low cost airlines known as no frills are pushing established airlines towards bankruptcy. Easy Jet and Ryanair serve the local market in Europe and at the Ryanair AGM (Annual General Meeting) this year they announced good results. Where will this all end?