Shafaqna English- With fresh tensions in the Persian Gulf pushing oil prices higher, investors and airline executives are noticing growing indicators that Europe’s weaker carriers may soon face a major consolidation or bankruptcy wave.
A U.S.-led group is close to taking over British budget carrier easyJet, which would see the 30-year-old airline become privately held at a valuation significantly below its pre-COVID peak. Elsewhere, airBaltic is scrambling for short-term funds to stave off insolvency, and Norway’s Norse Atlantic has begun a strategic overhaul.
Source: Reuters