Eastern Airways has also signed a deal to take over CitiExpress's 12-strong fleet of 29-seat Jetstream 41 aircraft and its engineering hangar in Glasgow.

BBC: North east hit by flight cuts

The services to Newcastle and Leeds-Bradford are being taken on by Eastern Airways, which already flies from Aberdeen to East Midlands, Humberside, Teeside, Norwich and Wick.

BBC: North east hit by flight cuts

Eastern Airways, Easyjet, Flybe, German Wings, Lufthansa, Thomas Cook, Thomson (TUI) and Wizz Air have already made changes to their pricing structures, websites and marketing material.

BBC: Airlines include debit card charges in headline price

The old dogfighters like Frank Lorenzo (once of Continental and Eastern) and Lord King (of British Airways) have given way to a younger generation of marketeers, more suited to the world of virtual airlines, alliances and empowerment programmes.

ECONOMIST: American Airlines loses its pilot

China Eastern Airlines rose 1.7%, Air China gained 1.9%, and Cathay Pacific Airways added 3.5%.

WSJ: Asian Shares Rise