JoC Online
Friday, August 22, 2008
Qantas Airways Ltd. will inevitably merge with another major airline as part of the global restructuring taking place in aviation industry, the Associated Press quoted the company's chief executive as saying on Friday.
Geoff Dixon, who is retiring from Qantas in November, said the world's 10th largest airline must become larger within a decade to remain competitive.
Singapore Airlines has been named in the past as a potential suitor. Dixon said he was not looking at any rival in particular. "I am not saying there is anybody out there at the moment," he said. "All I am saying is that many airlines are now merging in situations where they probably would not have considered it three or four or even five years ago."
The comments came a day after the Sydney-based airline posted a 44 percent rise in annual net profit, despite a slowing Australian economy and high fuel costs. In a statement Thursday, Dixon predicted fuel costs for the airline would rise by US$1.4 billion in the current fiscal year.
If the lone national carrier of Australia can be bought out by a foreign rival then what about the American-flag carriers?
Friday, August 22, 2008
Qantas Airways Ltd. will inevitably merge with another major airline as part of the global restructuring taking place in aviation industry, the Associated Press quoted the company's chief executive as saying on Friday.
Geoff Dixon, who is retiring from Qantas in November, said the world's 10th largest airline must become larger within a decade to remain competitive.
Singapore Airlines has been named in the past as a potential suitor. Dixon said he was not looking at any rival in particular. "I am not saying there is anybody out there at the moment," he said. "All I am saying is that many airlines are now merging in situations where they probably would not have considered it three or four or even five years ago."
The comments came a day after the Sydney-based airline posted a 44 percent rise in annual net profit, despite a slowing Australian economy and high fuel costs. In a statement Thursday, Dixon predicted fuel costs for the airline would rise by US$1.4 billion in the current fiscal year.
If the lone national carrier of Australia can be bought out by a foreign rival then what about the American-flag carriers?
