In the latter half of 2008, a worrying picture came forth of the European Airline Industry. It was observed that a large number of the carriers that constitute the industry were either running out of the required funds or were simply unable to maintain the provision of their services to the European region on account of one or the other financial difficulty (Global Travel Industry News 2008). However, it is essential to realize that this situation is neither immediate nor unexpected and has slowly evolved out and over the last few years. European Airlines that are not yet filing for bankruptcy are simply grounding flights on account of insufficient funds.
It is clear from the few case examples given above that European Airlines that had formerly been operating successfully are now faced with the ordeal of adjusting to changing economic trends and it is for the same reason that several carriers are looking towards putting together setups that can allow them to function as low cost carriers. The fact of the matter is that the most feasible option at this point is to bring about cost saving measures on a wider scale and transforming the European Airline Industry into a Low Cost Airline Industry.
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