Lamport Bassitt Solicitors - Legal News - Mergers "essential" in airline industry


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Mergers "essential" in airline industry It is crucial that companies in the airline industry engage in mergers, according to one expert. Giovanni Bisignani, head of the International Air Transport Association, said such deals are necessary in order to revive the sector. The expert noted that carriers are set to make combined losses of £1.8 billion this year. This figure may have to be revised upwards though as a result of the ongoing disruption being caused by the eruption of a volcano in Iceland. Many airports around Europe have been closed because of the risks posed by ash to the engines of aircraft, meaning services have not been running. Mr Bisignani remarked: "Mergers and consolidation is a must ... No other industry is so fragmented, so we have to consolidate in order to build more efficiency." He added that there are many conversations taking place between companies, but he did not reveal the details of such activity. Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News