17 June 2008

European Sick Carriers Parts 1 and 2

I was originally going to do this as a 2 part post.

Nah - lets combine it...

Sick Carriers 1

The EC is finally confronting the overwhelming evidence of abuse by the Italian government over its handling of the AZ bail out. The new Commissioner will have to confront the problem. If anyone is interested we have a very innovative solution to the problem. But since the politics of this are just too hard to contemplate - AZ may still survive and emerge Phoenix-like (only to fail yet again).

Sick Carriers 2

Right next to one of the most fashionable suburbs in Athens is the now abandoned airport of Athens. While the new Attica facility built and implemented in time for the 2004 Olympic games, the previous facility lies abandoned. The Olympic Airways (not Airlines) signs are still very much in evidence. A sad reminder that this national airline should be allowed to quietly die. Olympic is so hopeless that there is no answer or bailout that can be viable other than a miracle. Clearly no one is interested in this relic. Nor is one such event likely in the next few years. Positively speaking however. Aegean is now of sufficient size to accommodate the final collapse of the Greek national airline. Let it die.

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