East European Air Cutbacks on State Austerity Hurt Travel

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Ryanair Holdings Plc (RYA) Chief Executive Officer Michael O'Leary predicted that the incumbent carriers in Scandinavia and Poland won't survive in their current form amid competition from domestic and foreign low-cost rivals.

SAS Group, which owns Scandinavian Airlines, can't continue to rely on funding from Sweden, Denmark and Norway and is most likely to end up as a unit of Deutsche Lufthansa AG (LHA), while Poland's LOT has little room to pare operations that are already much reduced, O'Leary said today in Oslo.
http://www.bloomberg.com/news/2013-01-08/east-european-air-cutbacks-on-state-austerity-hurt-travel.html