More bankruptcies are on the way in the aviation industry, which is affected by overcapacity, price pressure and higher fuel costs, SAS CEO Rickard Gustafsson believes, according to an interview in the Danish newspaper Børsen.
The SAS boss is calling for more consolidation in the airline industry, which is under pressure from earnings. He argues that fewer, but stronger, airlines in Europe are necessary.
After a couple of tough years, SAS has started to make money. The company's next quarterly report is expected on December 4.
Source:TT-di
