Flybe boss predicts airline failures
30.09.11
Many airlines will experience hard times in the near future because of slower growth, struggling economies and higher fuel costs Mike Rutter, CEO of Flybe, said in an interview with newspaper Diena.
Commenting the future of European aviation, he predicts that it will experience significant consolidation, which will be more serious than over the past few decades. He said many airlines are definitely on the verge of hard times, and 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 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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