Ryanair, Air France, Lufthansa, easyJet ‘will Survive’
25.06.08
Ryanair, Air France-KLM, Lufthansa and easyJet are the European airlines most likely to survive as surging fuel costs and slowing economies send more carriers bankrupt, Davy Stockbrokers said in a report. Interestingly, they did not include British Airways in the group.
Davy analyst Stephen Furlong said in a note to investors: ‘The current oil-price-driven crisis could well be the worst to hit the airline industry. We view the long-term winners as the stronger airlines.’
He said that the airlines with the most cash and lowest operating costs, such as Ryanair, are best placed. Those with poor balance sheets and older planes, including Alitalia, Austrian Airlines and SAS, are the most vulnerable. Air Berlin, Vueling, Clickair and SkyEurope are also vulnerable, according to the note.
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