LOW cost carrier Ryanair reports full year figures tomorrow after a turbulent year for the airline sector.

Last year’s oil price bubble and the consumer spending slump has hit airlines hard, with British Airways recently revealing the toll this has taken on its figures.

A near-£3 billion fuel bill sent BA nosediving into the red by £401m after record profits the previous year.

It has also suffered from a switch away from premium traffic and a general decline in demand, forcing it to slash capacity and staff numbers and introduce pay freezes.

Ryanair’s flamboyant chief executive Michael O’Leary has taken a pay cut, as have managers throughout the business to reduce costs.

Its fuel costs soared by 71% in the final three months of 2008, although it benefited in the final quarter from a decision not to “hedge” – or effectively fix – fuel costs as the market cost of oil has since tumbled.