Airline bankruptcies “to double”
The number of airline bankruptcies around the world this year is set to double over the winter to at least 70, a leading industry body has warned.
Mike Ambrose, director general of the European Regional Airlines industry body, said: “We are now up to around 35 (bankruptcies) this year. I see at least that number over the winter.”
He said that the current climate for airlines was “far more significant, far more far-reaching” than the period after September 11, describing 2008 as a “year from hell”.
He called for a lower regulatory burden for airlines, estimating that a European scheme to make airlines pay for carbon emissions could add six million euros a year to a typical regional airline.
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