From the bmi web site.
bmi CEO says UK airlines will need to reinvent themselves
bmi CEO Austin Reid has told delegates at the Institute of Economic Affairs Ninth Annual Conference in London that airlines will need to reinvent themselves by examining closely the financial models on which they operate.
Austin Reid said:
“For the past 2 months in particular the whole of the world’s airline industry has been looking carefully at its future and how it can operate successfully.
“Success will come through stronger competition facilitated by reduced levels of regulation. By reducing costs airline operators will create environments where they can prosper. In particular close examination is needed in costs relating to labour, aeroplane manufacturers and airports. Success will also be brought about by improved sales distribution channels, productivity and network alliances.
“bmi remains and will continue to remain a full service airline and we have no intention to become a budget carrier. We pride ourselves on the quality of our service.
“However, it is vital that if we are to survive in the current climate we have to continually examine the cost of the operation as a whole. We will be applying low cost principles to our business, both long and short haul, as we see this as the way forward for the UK, and indeed, global airline industry.”