Airlines face global shake-out, says Delta boss
United States: Conference told things have to change in aviation industry
Airlines around the world are heading for a “global shake-out”, according to a report in today’s Financial Times.
The newspaper quotes Peter Reid, president of Delta Airlines, who was speaking at the Phoenix Sky Harbor International Aviation Conference, who predicted that the industry will eventually comprise of a “handful of global carriers”.
He said: “We are at the beginning of a multi-event, multi-year shakeout of the industry. There will be three to eight mega global carriers and a bunch of successful, sharp, niche players. The fact is that we are an old, established industry that has evolved pay and benefits over time that are in the top five per cent of corporate America and our results are in the bottom one per cent. That has got to change.”
The FT also quotes Michael Jackson, head of alliances at British Airways, who said: “There is a likelihood of significant structural change in Europe – there is still too much long-haul business. There is only room for three major long-haul hubs in Europe – London, Frankfurt and Paris.”
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