The most recent airlines to go bust were the Spanish Budget Carrier "Spanair" and the Hungarian National airline "Malev". The question is now, who will be next?
In the case of Malev, the 66 year old Hungarian national flag carrier was actually forced to stop flying, following the fact that the Hungarian government were prevented by the EU in financing the struggling airline. This resulted in a significant number of job losses in Hungry at the time and serves as a chilling reminder of the EU’s strict financial policy.
The Spanish airline, Spanair, left thousands of passengers stranded as talks to save the struggling airline finally broke down on the 27th of January 2012.
Other fairly recent casualties over the past few years were Zoom, Silverjet, XL and FlyGlobespan, all of which demonstrate that the problem is not new. In fact it was non other the chief executive of British Airways who stated in 2008 that 30 more airlines will go bankrupt, so we surely can expect more.
The bookies favorite is Monarch. Other prime candidates are reported to be...
- Regional UK carrier FlyBe
- The Polish carrier Wizz Air
- The Finnish flag carrier Finnair
- National carrier Cyprus Airways
- Aer Arann
We welcome comments and suggestions from all PT readers.
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