Willie Walsh, head of British Airways, is not upbeat:
- On increased fares and baggage fees: “The industry has no future if it does not price in its costs.”
- On cheap fares disappearing for good: “My view is yes.”
- On the airline industry’s viability: “This is about whether airlines can survive. If you look at a lot of the low-cost carriers around Europe, a lot of them have not been able to make money when oil was $80 per barrel.”
- On British Airways response: “It could be [a rise in] fares, it could be surcharges. Or it could be a combination of both.”
Investors in Delta (DAL), Continental (CAL), United (UAUA), American (AMR) and US Airways (LCC) take note.