It is usually considered by the authorities that 30 to 33% of the market constitutes the starting point of a possible monopoly.
Hardly likely that AF/KL/DL/NW/CO and Alitalia have that percentage of the European market, is it? After all with One world, Star Alliance, Ryan and Easy + the little chaps there must be 70% stacked up against them.
Anyway Spinny is not CRAZY - he knows how bad the AZ finances are and he can't afford to bail them out.