If you have become addicted to the fly-cheap philosophy espoused by budget airlines over the last decade, it could be time to rethink your travel plans. Airlines now find themselves facing a crude oil price that has doubled to more than $140 a barrel in just 12 months, pushing fuel costs to record levels. Around 10 small carriers have already gone under, and the industry as a whole is expected to lose $40 billion this year.
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