Ryanair is slashing checked bag fees

European airline Ryanair is reducing its checked baggage fees -- just in time for the busy summer travel season. The low-cost carrier, which calculates its checked baggage fees on luggage weight and flight duration, announced Thursday it's cutting some fees by as much as 50%. Checking a bag that weighs less than 34 pounds for a domestic flight shorter than two hours will now cost €15 ($17), down from E30. A heavier bag on the same flight length will cost 38% less at E25. Travellers checking a lighter bag on flights under three hours will pay E25, a 17% price reduction. The costs of checking a bag for Ryanair flights of three or more hours remain the same. The low-cost airline said the move will bring savings for 92% of its travelers. Thursday's announcement also cuts the number of bag fee options to six from 108.<br/>