Ryanair, Air France-KLM, Lufthansa and easyJet will survive aviation crisis
25.06.08
Ryanair, Air France-KLM, Lufthansa and easyJet are the European airlines most likely to survive as surging fuel costs and slowing economies send more rivals bankrupt, Davy Stockbrokers said in a report today.
Davy analyst Stephen Furlong said in a note to investors: ‘The current oil-price-driven aviation crisis could well be the worst to hit the airline industry. We view the long-term winners as the stronger airlines.’
He said that the airlines with the most cash and lowest operating costs, such as Ryanair and easyJet, are the best placed to ride out the storm. Those with poor balance sheets and older planes, including Alitalia, Austrian Airlines and SAS, are the most vulnerable. Air Berlin, Vueling, Clickair and SkyEurope are also likely to struggle unless the cost of fuel falls sharply soon, according to the note.
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