The resilience of low-cost carriers has helped regional airport group TBI to trade in line with market expectations despite events in the Middle East.

The company, which owns Belfast International Airport, said yesterday it was trading with "resilience" and "robustness" despite events in Iraq. About half of TBI's passengers fly with low-cost carriers such as Easyjet and Ryanair.

In a statement, the company said: "The board of TBI confirms that current trading is in line with market expectations and the solid performance which characterised the first half has continued."

The company will announce preliminary results on June 10th.

However, it warned that events in Iraq could cause uncertainty and "we would not be exempt from any extreme consequences".

The company owns eight airportsand is also involved in providing other airport services.

Meanwhile in Britain, union leaders were seeking urgent meetings with Ryanair yesterday after the airline's expected takeover of low-cost carrier Buzz failed to go ahead.

It is being examined by the Office of Fair Trading, a process due to finish by April 28th.

All Buzz services end today although Ryanair plans to reopen 13 routes on May 1st.

Hundreds of jobs are being lost and many workers turned up at Stansted Airport in Essex yesterday expecting to receive redundancy payments.

Many of the former Buzz staff have found other jobs but were left confused by the latest development.

The airline also said it had withdrawn its planned service from Stansted to Grenoble in the French Alps.

The airline said it regretted closing the route but the attitude of the airport authorities had given it no alternative.