Who has the right model for European aviation? Pan-European airlines lead, but models vary

There has never really been a consensus on the question of what defines success in the airline industry. However, that now seems to be changing and opinion is coalescing around the idea that financial performance is the best demonstration of success. Chapter 11 bankruptcy, followed by consolidation has helped profitability in North America, but this process has slowed to a trickle in Europe's more fragmented airline sector, forcing each European airline to devise its own formula.