Ben Evans : "the bubble will not burst"
Eh wake up and smell the coffee please Mr Evans.
Take one group of dedicated Al Qaeda/IRA type terrorists, add a fundmentalist suicide bomber who attacks an aircraft in Europe, and the seats will empty and there will be lots of empty and parked aircraft all over Europe.
Does my theory sound crazy ? Well just look at what has happened in Bali in the past 24 hours !
In 1968 Ulsterbus and its sister in Belfast used to operate 30 coaches and 5 hotels employed solely on inbound tourism into Northern Ireland - then the troubles started and by 1971 all 30 coaches had been sold and the hotels were closed ! Did that bubble burst ?
The economics of the airline business these days are subject to external factors - if George Bush keeps on beating his chest about war in Iraq, the transatlantic flights will empty as American companies tell their staff not to travel.
It may not be competition that bursts the bubble but something more deadly.
My condolences to all those innocent tourists who lost their lives in Bali.