Europe/CIS: 30 more airlines could fail before Xmas

UK flag carrier British Airways’ CEO Willie Walsh said recently that as many as 30 more airlines could go bankrupt before Christmas. Britain’s Independent carried a report quoting Walsh as saying: “We are in the worst trading environment the industry has ever seen. We have already seen 30 or so airlines go bust this year […]


UK flag carrier British Airways’ CEO Willie Walsh said recently that as many as 30 more airlines could go bankrupt before Christmas. Britain’s Independent carried a report quoting Walsh as saying: “We are in the worst trading environment the industry has ever seen. We have already seen 30 or so airlines go bust this year and it would be fair to expect a similar number of casualties worldwide over the next three to four months.”

Some UK bookmakers are taking bets on which airline or tour operator will be the next to go bankrupt, though transport analysts are reluctant publicly to name those considered most vulnerable for fear of sparking a panic that would seal their fate, the Independent said.

The biggest known payout on UK carrier XL (which failed in mid-September) was £2,000 on a £500 bet at 4:1 through bookmaker Paddy Palin.