SEPTEMBER was a bad month for ailing airlines as following the demise of Thomas Cook and the rescue of Condor in Germany two more low cost French Airlines are in trouble with one needing €35 million to survive.
France’s second-largest airline, Aigle Azur, was shut down by a court last week after going into Administration and then failing to find anyone to bail it out.
Originally formed in 1946, it operated 13 planes serving a number of European destinations as well as Algeria and employed 1,000 staff across all of its destinations.
The other casualty was XL Airways which cancelled all flights as it too was unable to find the €35 million of financial backing it needed and will almost certainly be declared bankrupt shortly.
The fact is that price wars are affecting the viability of low cost airlines of all types and this trend may see others flounder as well.