The fallacy of airline mergers: Two drunks holding unto each other will not walk straight – Pilarski

The above is a quote of what I told the Wall Street Journal a few years ago when commenting on mergers. Two weak companies joining each other will not miraculously become one strong one. This is worth remembering in light of recent developments in the US where airlines are merging at an increasing rate. The interesting element is that the belief that mergers are good for the industry is an almost universally accepted truth. This opinion paper on airline mergers, 'The fallacy of airline mergers: Two drunks holding unto each other will not walk straight' is by Adam Pilarski, SVP of AVITAS Inc.