PhotoNaturally, the behemoth legacy carriers are not sitting idly by as the upstarts gnaw away at their market share. It now has 3 percent of trans-Atlantic market share, compared with 13.5 percent for the industry leader British Airways, according to the Centre for Aviation, a research firm based in Sydney. Craig Jenks, an aviation consultant based in New York, detects signs of “irrational exuberance” in the trans-Atlantic market. The low-cost airlines, he said, “are putting on lots of new capacity. “But in a sudden market downturn, Skytrain fares were matched by large carriers and it couldn’t compete,” Mr. Jenks said.

Source: New York Times January 17, 2017 05:01 UTC