VOCABULARY a low-cost airline - tani przewoźnik, tanie linie lotnicze to fly - latać holiday places - miejscowości wypoczynkowe low price - niska cena to fill - wypełnić, zapełnić seat - miejsce holiday season - sezon urlopowy demand - popyt to outstrip - prześcignąć, przewyższyć supply - podaż to make a profit - osiągnąć zysk, przynieść dochód to keep a tight control on costs - trzymać ścisłą kontrolę nad kosztami no-frills - (o usłudze) tani, podstawowy, bez zbędnych dodatków i luksusów frill - ozdóbki, dodatki, bajery to keep overheads to a minimum - obniżyć do minimum koszta ogólne jet fuel - paliwo do silnika odrzutowego to worry - martwić się oil - tu: ropa naftowa to rise - rosnąć, zwyżkować steadily - w sposób ciągły, stały; równo barrel - tu: baryłka to wipe out the profits - wyeliminować, zniweczyć, pochłonąć (dosł: 'wymieść') zyski advice - rada option - opcja

Lesson 17
Finances

Paolo Gesualdo had started up a low-cost airline. His planes flew from a small airport outside Turin, Italy to busy holiday places in Greece.

The low prices meant he was able to fill over 80% of seats on his three planes and during the busy holiday season demand far outstripped supply.

But Paolo knew that he would only be able to make a profit if he kept a tight control on costs. This was a 'no-frills' airline, so he could keep overheads to a minimum.

He also watched the wage bill carefully. But, like all airlines, he was a big consumer of jet fuel and he was starting to worry about the price of oil.

This had been steadily rising for the last two weeks. At the moment it was $48 a barrel but if it rose above $53 it could wipe out his profits completely.

Paolo decided to call an old business partner and ask for some financial advice. "What options do I have in this situation?" he said.

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	Lesson 17

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