Europe’s LCCs Expect Better 2014, Legacies Struggle
By Cathy Buyck
Source: Aviation Week & Space Technology
The financial performance of the European airline industry has been below the global average for several years and 2014 will not be any different. The eurozone economy seems to have stopped shrinking, but Europe is far from resolving its debt problems, and the weak demand environment will weigh on European carriers.
The European Commission is predicting GDP of the economy across the 17 countries using the euro will grow by only a modest 1.1% in 2014, and 1.7% in 2015. The unemployment rate will remain high—at around 12.2% in 2014. Although the figure will vary country by country, it is at its highest level since the currency was launched in 1999.