According to corporate restructuring expert Begbies Traynor, seven British airlines with a combined turnover of more than £25 million are in danger of going bust in the near future.
Another sixteen airlines are said to be facing 'significant' problems - including impending court actions and overdue accounts - as the industry struggles to cope with the recession.
Nigel Atkinson, a partner at Begbies Traynor, said: 'Demand for flights has fallen dramatically and carriers are frantically adjusting their capacity accordingly.'
Atkinson believes the list of failed airlines, such as Zoom, XL and Silverjet, will get significantly longer this year as the downturn worsens.
'It is remarkable there have been few examples as yet of dramatic downsizing or collapse, but the smaller airlines with no commercial viability or visible benefits to an acquirer will undoubtedly fail,' he said.
Maybe WWW's prediction will come to fruition......................
