Continental say transatlantic flights need 10-20% cut
19.06.09
The number of transatlantic flights needs to be cut by between 10-20% if airlines are to make a profit, Bob Schumacher, Continental Airlines' sales director for the UK and Ireland, said yesterday. Speaking at the Business Travel Market in London, he added that prices on prices on transatlantic trips were also ‘too low.’
Mr Schumacher said that when Willie Walsh had taken over as CEO of BA, he said he wanted to achieve a 10% margin, but airlines ‘were nowhere near that margin.’ He added: ‘We need fundamentally to re-adjust on supply and demand. We would need to take out 10-20% out on the Atlantic but that would take a huge number of planes out and see a huge number of job losses.'
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