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Old 21st June 2012 | 13:07
  #14 (permalink)  
Narrow Runway
 
Joined: Mar 2011
Posts: 537
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From: The IMF.
Surprised?

I'm afraid to say that I do not consider this a surprise.

Spain is in a hole, almost a death spiral if the Bond market is correct.

Unemployment is rampant, debt high and wealth diminishing.

easyJet pilots have been quick in the past to point out just how good a deal they are on at MAD.

The race to the bottom is on, and easyJet are contenders unfortunately.

I feel genuinely sorry for those displaced staff, but this is not really a surprise IMHO. The facts are: the cost base is too high for the customer base.

No doubt, easyJet will re-enter MAD with based aircraft and crews in a while. But, I'm certain the contracts will be much more like the LIS base contracts, as opposed to the current generosity of the MAD contracts. This would rebalance their ability to compete in the MAD market.
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