Much has been mooted in recent times about a shake-out in Europe's airline sector. The high-profile collapses of Spain's fourth-largest airline, Spanair, and Hungarian national airline, Malév, have contributed to shrinking the mid-market sector. However, so too has straightforward merger activity in the form of International Airlines Group's acquisition of bmi.
Elsewhere in the industry rising fuel prices and the drive to reduce cost base are prompting further M&A activity. Accordingly, there have been moves by aerospace manufacturers to rationalise their supply chain and consolidate in complementary areas and to harness some cross-border reach.
Our publication provides an overview of recent trends in European aviation M&A transactions.