EVEN at the best of times, airlines do not give great returns. With oil prices soaring to unprecedented levels and remaining there, the prognosis for the industry is really bleak. More airlines are going to be forced out of business while the majority of us are going to bleed red ink yet again.

Change – and I mean drastic change – is absolutely vital for our survival. That, and a willingness to reinvent the way we operate, including through mergers and acquisitions. The general public everywhere must be prepared to face sharply higher prices for air travel now, or be prepared to stomach even higher prices later when the number of participants become fewer and competition fizzles out in favour of consolidation. ... Read full article