Rickard Gustafson, CEO of SAS has declared in an interview that the global economic slowdown and high jet fuel prices will push the airline industry into a new wave of consolidation.
"I would be surprised if we didn't see an accelerated activity in terms of consolidation in the airline industry driven by this situation," he said. "I do believe that ... when capacity outruns demand in very tough market conditions ... that is a pretty lethal cocktail."
Loss-making SAS has been singled out as a takeover target since it has failed to turn a profit since 2007.
SAS expects more consolidation
