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European legacy carriers slipping back, as traffic losses begin to compound

After more than six months of pain, traffic for Europe’s full service carriers appears to be inching its way back towards positive territory, although the outlook for long-haul markets remains uncertain. Despite some indications that the “traffic crunch” may be easing for Europe’s full service airlines, any year-on-year gains made from now may be illusory. It was at this point last year that the credit crunch and the global economic crisis really began to make their impact felt, and passenger traffic for Europe’s full service carriers began to enter negative territory, reaching a frightening nadir around February this year.

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