UALWN From Andorra, joined Jun 2009, 3127 posts, RR: 2
Reply 2, posted (2 years 10 months 1 week 2 days 18 hours ago) and read 2592 times:
Quoting sweair (Reply 1): Well looking at some of the national budgets missing the budget by 7-10% this is nothing
$1.1bn for all European airlines wouldn't actually be too bad. Just for comparison, I randomly found that in Q4 2008 (in the onset of the global financial crisis), the combined US airlines lost about $1.5bn (in one quarter). And here they are, basically all of them, although merged...
Rising fuel costs, rising food prices, no salary increasements, totally failing banks and governments, tax increasements, bad market. Only a few will travel by air at a high fares and to be served with lobster, pampered in velvet long chairs, nipping champaign from crystal vases. Legacy carriers are out, LCCs will have the future. Why should we fly that much since we have internet, skype etc. instead?