Petrol price hike set the snowball down. Everything will be pushed down or aside. Idris is telling everyone about it...
" An open letter to customers from the Managing Director and CEO of Malaysia Airlines, Idris Jala, has publicised his dire predictions as to the state of the industry, going as far as forecasting potential collapse.
He claimed that the global airline industry may witness fares rising by as much as half, capacity cut by a quarter, and all of this a looming reality, even with costs cut by a tenth.
Idris pointed to a need for more mergers and acquisitions between carriers, and warned of potential collapse unless ‘drastic’ changes occur, and quickly.
His warning was immensely pessimistic, claiming that more and more airlines were likely to be “forced out of business, while the majority of us are going to bleed red ink yet again.”
Read further: Travel Blackboard (press release), Australia-