ôIf the oil price remains at current high levels, the present profitability cycle for airlines which started in 2003 has peaked,ö he said during a presentation to reporters yesterday.
UBS is forecasting a recession in the US in the first half of the year, but positive growth for the full year. But the downturn, according to Horth, will lead to a softening of demand for air travel. This together with higher oil prices will force weaker airlines to restructure or...
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