Just when airlines are emerging from bankruptcy and starting to post the best profits since 2001, the industry’s future is shakier than ever. But it doesn’t take a crystal ball to see that consolidation is on the horizon. It’s just a matter of when and how.
Goldman Sachs analyst Robert Barry wrote Thursday that “all airline management teams and boards have been discussing consolidation ad nauseam, for months if not longer.” United Airlines has made no secret that it would entertain a partnership. And Northwest has been open to talks as well. But so far, airlines have been all talk and no action.
“Everybody’s filling up their dance cards but nobody’s dancing yet,’’ said airline analyst Ray Neidl with Calyon Securities.
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