The National: Michael Wette On Covid-19’s Impact On Middle Eastern Airlines
April 07, 2020
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The coronavirus pandemic is forcing airlines to take unprecedented measures to survive the staggering fallout. As the crisis crosses the 100-day mark, UAE daily The National looks at how the structure of the industry is changing and what defines the ‘new normal’.
Transportation Partner Michael Wette comments that consolidation may take the form of bankruptcies among weaker carriers and shedding excess capacity, rather than through mergers. "Governments consider national carriers as indispensable for business and their economy, but since there’s huge overcapacity, they will not be willing to rescue all companies".
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