Major European Airline Shuts Down

[howzat]

http://www.reuters.com/article/2012/02/ ... ialsSector

Another couple of hundred 737 pilots on the market, on top of Spanair the other week.
With tensions in the Middle East and other places escalating daily and the oil price likely to climb to record highs, plus the world economies in the toilet, looks like aviation is in for another major downturn.

[wallypilot]

Fearmongering....

Businesses go under all the time, not just in aviation.

The middle east is often in turmoil. There are other sun destinations.

Europe had a major aviation boom, and now things are slow...it will boom again one day.

People will keep traveling for pleasure, and businesses will continue to need their people to do business trips...

despite globaliztion, the economy on the homefront seems to be holding up okay.

It won't be as bad as the late 90's/early 2000's.

So all this means: it won't really be too bad.

[rigpiggy]

Maybe Sunwing will sponsor them all for landed immigrant status

[bmc]

You can add Malev to the list of recently departed:

http://www.businessweek.com/news/2012-0 ... -says.html

[Mig29]

That's sad....after 66 years of operation, one of the oldest European carriers is gone.

[Realitychex]

That's sad....after 66 years of operation, one of the oldest European carriers is gone.

...and within a week, Wizz Air and Ryanair have announced flights to replace about 35% of Malev's capacity.

Ryanair has 60+ aircraft parked this winter, so if there were other viable routes, they could replace 100% of the capacity in under 60 days.

Never believe airlines are too big to fail. Economic voids can be filled by the market amazingly quickly.

[Mig29]

From the above article, it's not just them two....they are plenty more sharks eager to get their piece.

"European carriers such as British Airways Plc, Air France- KLM Group, Deutsche Lufthansa AG and its Brussels Airlines unit, Air Berlin Plc, Ryanair Holdings Plc and Budapest-based Wizz Air have announced capacity expansions and new routes since Malev’s collapse, the airport operator said."