Europe`s largest airlines are all reporting weaker results for the month of February, taking a hit from the…
Europe`s largest airlines are all reporting weaker results for the month of February, taking a hit from the prospect of war in Iraq before the war actually starts. Airlines across Europe have already stored aircraft, cut staff and flights during the course of a long industry slowdown, but if February volumes are worse than expected, carriers could be forced to make still deeper cuts to safeguard earnings, analysts said.
Full-service carriers have already lost market share to low-cost carriers easyJet and Ryanair on shorter routes, so they can ill afford further falls in the numbers of long-haul and business passengers. February 2002 data was already weak as volumes had fallen for months after the hijacked airline attacks in the USA on 11 September 2001.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
