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Huge quantity of budgetary European airlines is facing hard time: because of proceeding rise in prices on fuel they are on the verge of bankruptcy. And the majority of experts mark, that if in the nearest future prices for oil will not decrease, these airlines can become bankrupts.
Moreover, in market participants’ opinion, now they have the only way out: to reduce unprofitable routes and to leave only those directions, which can bring profit. In particular, local flights can be partially canceled.
Meantime, according to International Air Transport Association (IATA), for the expired period 24 airlines, about half of which are European, have become bankrupts. Companies, engaged exclusively in business class transatlantic flights, are also facing a lot of problems. For example, British Silverjet, MAXjet and Eos Airlines have already been compelled to stop flights because of difficult financial state. So, Ryanair Holdings Plc, the largest budgetary airline in the Europe, has declared, that in the future winter it will suspend use of 10 % of the park of planes for preservation of profitableness of the company.
Moreover, some experts assure, that even British Airways can suffer losses, if the prices for oil will remain so high.