Flybe boss predicts airline failures
30.09.11
Airlines will experience hard times over the winter because of slower growth, struggling economies, falling household incomes and higher fuel costs, Mike Rutter, CEO of Flybe, said in an interview with newspaper Diena.
He predicts that European aviation will experience significant consolidation, which will be more serious than over the past few decades. He said many airlines are definitely struggling, and says that many smaller airlines will be taken over by the larger rivals, with the European aviation industry seeing significant changes.
Mr Rutter did not disclose the airline's intentions regarding the purchase of other airlines, but revealed that negotiations are currently taking place with two airlines in the Nordic and Baltic regions.
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