When you are the leading airline in a hot tourism market such as Iceland, things should be going your way. But Icelandair's CEO resigned Monday, following financial results that wowed no one. OK, pun intended, because low-cost and hometown rival Wow Air has eaten into its larger rival's business.
But, as Aviation Business Editor Brian Sumers' story today points out, Wow Air is far from Icelandair's only problem. Legacy U.S. carriers and others have thrown new capacity into the market, and United, American, and Delta now all have basic economy fares on transatlantic routes. That means price-conscious flyers don't necessarily have to stop in Iceland on the way to or from Europe to find an attractive deal. Icelandair's new CEO will have to get creative.
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