British Airways’ boss Willie Walsh said his airline will survive the current surge in oil prices, but warned other operators will fail and predicted fare rises across the industry.
As oil prices continue to set records, reaching $135 a barrel yesterday, airlines are coming under increasing pressure from soaring costs.
Several airlines, including Oasis and US operator Eos Airlines, have filed for bankruptcy recently, as the oil surge has hit the smaller, budget companies hardest.
UK business carrier Silverjet may be the next victim, as its shares were suspended this morning as the company admitted a loan is urgently needed to continue trading.
