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Fuel costs will trigger airline bankruptcy wave - easyJet German Head

03-Jun-2008
Airline Code [EZY]  View More easyJet News   
Fuel costs will trigger airline bankruptcy wave - easyJet German Head

Tags :UK, easyJet

(XFN Asia) The Head of easyJet’s German unit, John Kohlsatt, stated that high fuel prices will trigger a rash of airline bankruptcies, leaving only five major carriers in Europe, Several airlines in Europe will go out of business… theoretically, 50 are endangered.

 

According to Kohlsatt, several carriers have been hit hard by rising fuel costs and are sliding into the red - a development that in the end may leave only British Airways, Air France-KLM, Lufthansa, Ryanair, easyJet.

Kohlsatt stated easyJet would weather the storm due to its relatively low operating costs and modern, fuel-efficient fleet, adding "We have ordered 119 [aircraft] and have options for another 88…we will double in size in the next five years."

easyJet reported last month that net losses deepened in the first half of its financial year to GBP43.3 million due to steep fuel costs and the takeover of GB Airways.

Date posted: 03-Jun-08
 

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