M&A trends in global airline industry

Historically, industry participants in the global airline industry have expanded their capacities and networks and were noticed being engaged in price wars in an effort to gain market share. However, the last 10 years of industry are characterized by unstable passenger demand and scattering fuel prices. In this conditions, merger and acquisition (M&A) activity has grown stronger, as now industry participants have moved their attention to cost cutting and excess capacity reduction in an aspiration to improve profitability.