Going by the impending gloom predicted by British Airways CEO, Willie Walsh in a recent article on the Guardian, the highly profitable European fly-to-let boom will soon trickle dry as he declared the end of the era of cheap air travel due to a continuous increase in oil prices.
Alarmingly the cost of a barrel of oil stood at $65 only a year ago but has since risen to over $135 a barrel. This is more than double the price and is not likely to stop there either.
Travellers used to a quick jet off to the sunnier climes of Spain, France, Italy, Greece, Cyprus and the like, could soon find themselves at the longer end of the deal, no longer able to afford to travel to their rental properties overseas.
