EasyJet Chief Says European Airline Shakeup Is Not Over
Fahad Shabbir (@FahadShabbir) Published March 28, 2018 | 11:25 PM
Bordeaux, (APP - UrduPoint / Pakistan Point News - 28th Mar, 2018 ) :The European aviation sector is likely to see further consolidation after a number of airline bankruptcies, the new chief executive of British low-cost airline EasyJet said on Wednesday.
"In 2017 we saw the bankruptcy of Monarch, the problems with Alitalia, Air Berlin as well, it is just the sign there will be more change," EasyJet CEO Johan Lundgren told AFP in an interview during the inauguration of the company's sixth French destination in the southwestern city of Bordeaux.
France is EasyJet's second-biggest market after Britain, and the company has already raised its French capacity by six percent this year. "There is more consolidation to come and I'm convinced EasyJet is part of the companies who will become stronger and stronger," said Lundgren who took over at the airline in December.
"But there will be players who are weak today and who will continue to become weaker and also potentially disappear," he said.
"And that is the road I think that the aviation industry is on." EasyJet stood ready to participate in the consolidation "as we did with Air Berlin", Lundgren said, referring to EasyJet's purchase of the bankrupt German carrier's operations at Tegel Airport in Berlin.
"We are monitoring the situation in Europe and if the opportunity is right, if it makes commercial sense for us, we will make sure to seize the opportunities," he said. The airline, which is based at Luton, north of London, in January reported that first quarter revenues jumped more than 14 percent, profiting in part from the collapse of rivals and flight cancellations at Ryanair.
Revenue reached �1.14 billion ($1.61 billion) in the three months to the end of December, compared with a year earlier. EasyJet, which carried a company-high of 81.6 million passengers in 2017, is aiming to secure "strong positions in the Primary airports", Lundgren said in the interview.
Related Topics
Recent Stories
Azad Jammu Kashmir Prime Minister Chaudhry Anwar ul Haq condoles over the demise ..
Senior Army Commanders visit families of customs' martyrs to condole
Poland-Pakistan corporation established on solid foundations: Polish envoy
Chairman Senate passes ruling to constitute Special Committee of Upper House
Stocks fall as tech shares sink, US economy slows
Honda announces US$11 bn EV battery and vehicle plant in Canada
All AJK Inter-varsity Speech Competition urges UNO to ensure early grant of righ ..
AJK CEC calls on President Sultan Chaudhry
Assistant Secretary General of UNDP, Director of Regional Bureau for Asia & Paci ..
Portugal marks 50 years of democracy with far right on the rise
IHC suspends notification regarding cut in prices of 'naan & roti'
More Stories From World
-
Honda announces US$11 bn EV battery and vehicle plant in Canada
23 minutes ago -
Portugal marks 50 years of democracy with far right on the rise
21 minutes ago -
Oman, UAE deluge 'most likely' linked to climate change: scientists
1 hour ago -
BHP launches $38.8 billion takeover bid for rival Anglo American
1 hour ago -
Saudi oil giant Aramco agrees major FIFA sponsorship deal
1 hour ago -
Putin says plans to visit China in May
1 hour ago
-
Haiti transitional council sworn in after months of violence
2 hours ago -
Ukrainian village battles mines year after Russia forced out
2 hours ago -
China's Shenzhou-18 mission takes off bound for space station
2 hours ago -
Thousands of flights scrapped as French air traffic controllers strike
2 hours ago -
India's IndiGo to buy 30 A350 planes: Airbus
2 hours ago -
Scottish leader scraps coalition deal with Greens
2 hours ago