British Airways slashes Europe fares

British Airways has

reduced prices

by up to 50 percent on nearly 70 intra-Europe routes. The move is a direct response to competitors like Ryanair and easyJet, who typically outduel BA on short-haul routes in the busy summer travel season. The price changes will reportedly affect about seven million seats a year.

"This is not a short-term gimmick, but a long-term commitment," says British Airways Commercial Director Martin George. One-way fares will now start at about $52 before taxes and fees.