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Ryanair think only five airlines will survive in Europe

Tuesday 07 Oct 2008 8:41pm

Ryanair's deputy chief executive Howard Millar told the audience at an airline conference in London that only five European airlines are in a strong enough position to survive the ongoing turmoil in the aviation industry. Mr Millar named easyJet and Ryanair as the two no frills airlines that would weather the period, while a Ryanair spokesman later confirmed that British Airways, Lufthansa and Air France/KLM were the other three airlines referred to. The Ryanair executive also said that further consolidation in the aviation sector could be expected. The outcome of this process would be a fewer flights, job losses and a resulting reduction in choice for travellers. However, Mr Millar highlighted some good news for prospective holidaymakers: airfares would become more competitive. 'People are more price sensitive and carriers will struggle to fill their seats unless they reduce fares,' he said. The airline remained gloomily realistic about its expectations for the year. Mr Millar said the company now hopes to break even, although this is an improvement on its forecasts from July that suggested a loss would be made this year for the first time since 1989. The no frills airline expects to continue to break even provided that oil prices remain below $100 a barrel. However, it will still ground 14 of its fleet of aircraft this winter at Stansted airport as a result of high fuel costs.

Browse tags: #FR #DUB #STN

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