Europe's Airlines Are Drunk on Cheap Fuel
Industry should consolidate, like the Americans.
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These are the very best of times for European air passengers, but for airline investors it's hard to imagine how things could possibly be worse.
Drunk on the profit boost served up by cheap fuel, airlines have once again added far more capacity than passengers require, causing fares to plunge. A spate of terror attacks and Brexit worries have exacerbated the problem.