European airline industry leaders at the Airlines for Europe (A4E) believe consolidation is vital for the survival of Europe's airline industry, Reuters reported. It comes as the EU weighs in on Lufthansa's proposed 41% stake in ITA Airways.
IAG CEO Luis Gallego had reportedly told reporters at the conference that if consolidation is prevented in Europe, airlines are at risk of being left in ruins.
Ryanair CEO Michael O'Leary had apparently concurred with the statement, adding that the EU should speed up the consolidation approval, believing it to be a significant step for European airlines to advance.
Lufthansa CEO Carsten Spohr had also told reporters that he wished for the deal to be closed as soon as possible.
Consolidation vital for European airlines to survive, A4E Summit
