/world business
LONDON, England (CNN) -- Ryanair said Tuesday it will ground up to 10 percent of its fleet over the winter because of rising airport charges.
Ryanair has complained to OFT about its ongoing row with the UK's Advertising Standards Authority.
The Irish budget carrier claimed it would be more profitable to keep 20 of its planes on the ground at airports in London and Dublin.
The announcement came despite Ryanair unveiling a 17 percent rise in pre-tax profits to €528 million ($818 million) in the first quarter of 2008.
The airline's CEO Michael O'Leary blamed the decision on the "unjustified" doubling in landing and handling charges levied by the British Airports Authority and higher charges at Dublin Airport.
O'Leary said the low-cost carrier would break even if oil prices remained at $130 a barrel for the remainder of 2008.
"The over-riding concern for airlines, passengers and investors currently is the irrational price of oil," O'Leary said in a statement.
In spite of a 20 percent rise in passenger numbers, O'Leary has imposed a pay freeze on himself and Ryanair's top 36 managers.
The airline has faced a difficult year so far.
In April, the British advertising watchdog the Advertising Standards Authority referred Europe's leading low-cost carrier to the Office of Fair Trading over allegations it was giving customers misleading information on its Web site.
Two months earlier, Ryanair had to pay compensation to the French President Nicolas Sarkozy after using a photo of the French leader and his wife Carla Bruni without permission in an advert.
All About Ryanair Holdings plc • Ireland • Air Travel • Advertising
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