Whisper it – especially when there’s 21,000 jobs on the line and 600,000 holidaymakers stranded – but there will be plenty of people in the airlines sector quietly rejoicing at Thomas Cook’s collapse.
Harsh? Yes. True? Absolutely.
Overcapacity. It’s a curious buzzword that has been doing the rounds in the industry for some time. Crudely put, the European aviation market has too many flights chasing too few customers.
Even more crudely, there are not enough bums to put on plane seats – and that’s not just because they are getting smaller (the seats, not the bums).
Thomas Cook, which ceased trading early on Monday, will do its bit in addressing an imbalance between supply and demand.
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