Eos, the first of the luxury transatlantic carriers, followed MAXjet in declaring bankruptcy. The company’s financing to prevent this fell through, and ceased operations last night. They owe money to Servisair, Delta Airlines, United Airlines, and JFK Airport, to name a few.
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Eos boasted reasonable business class fares on an all business class plane flying from New York to London’s Stansted Airport. With the loss of the all-business class service to Stansted, we wonder if American will cancel its service to the airport from New York. It would be a shame. The world doesn’t end and begin at Heathrow, after all.
On another perspective, many carriers are folding or ceasing operations, citing high fuel costs. On one hand, consolidation and reduction may be good for the industry.Conversely, so is competition. We aren’t sure what ends up being better for the industry…merger or bankruptcy.
We, as usual, welcome some thoughts on that question. In the end, we the consumer lose. But what do we expect? We want everything, and we want it cheap while the cost of fuel hits record levels.
