About 80% of the US market is held by 4 airlines. The European one is more fragmented - with the involvement of governments, unions, bilateral agreements etc.

Major realignments and mergers are probable - in the aftermath of Flybe's demise, and Norwegian losing 70% of its market value.

Those with strong capital ratios will benefit - IAG, Ryanair and EasyJet, for example. Those highly leveraged will feel the wrath of Coranavirus.

With routes being regularly cancelled - those vulnerable include Aer France-KLM, Lufthansa, SAS and Alitalia. Adaptability is key now - and these entities have little.

Even Virgin is being forced to use its Heathrow slots, with virtually empty planes - just to protect these valuable assets, which are lost when unutilised.

Barney wrote:
Virgin is being forced to use its Heathrow slots, with virtually empty planes - just to protect these valuable assets, which are lost when unutilised.


EU is today drafting legislation to make this slot protection unnecessary - for its members.

For the moment - due to Brexit - we are in another deep pool of uncertainty.

It seems our case will have to be made independently - and to different legislatures.

Brussels has no interest in our aviation problems - or any Brexit related ones.

As it will continue to prioritise its own areas of difficulty - only...