Financial crisis and airlines (Part 1) British Airways at pointed end of premium travel slump
In the midst of last week’s dramatic events on financial markets, British Airways (BA) Chief Executive, Willie Walsh, declared the airline industry was going through “a deeper, more protracted, more fundamental crisis than 9/11, the Gulf War or any of the previous shocks that have beset the industry since the age of mass air transport began in the 1970s”. Mr Walsh repeated his warning that more carriers would disappear this Winter.
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