Sunday, December 05, 2021

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Critical situation for European airlines

Critical situation for European airlines

Brussels, Sep 8 (Prensa Latina) A critical situation for some of the main European airlines made headlines on Tuesday in specialized media, as a consequence of the Covid-19 outbreaks.
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In this regard, the electronic bulletin Preferente reported that Air Europe lost 427 million euros in 2020, and those losses are expected to drop from 250 to 300 million in 2021, totaling 700 million euros in losses in two years.

This scenario will force Air Europe to ask for a second public bailout, after the first one of 475 million. In addition, the European Union (EU) is currently requesting more documentation than expected to approve the sale to Iberia.

In this transaction, the EU maintains its demands regarding the routes.

Precisely, the final decision by Brussels also on its sale to Iberia, has generated great uncertainty due to the documents requested by the European Commission (EC) to materialize such a deal.

The publication El Confidencial noted the number of routes in demand to give them to the new airline group that would integrate the airlines of the Globalia firm and one of the IAG conglomerate, which also includes Vueling and British Airways.

Moreover, these processes are part of a price war in which the airlines have been immersed since practically the beginning of the pandemic, with endless promotions to boost demand.

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