airlines must rework finances says bmi chief

hief executive officer Austin Reid believes the aviation industry must rework its finances following the US terrorist attacks.

Speaking today at the Economic Affairs Ninth Annual Conference in London, Reid said: “Success will come through stronger competition facilitated by reduced levels of regulation. By reducing costs airline operators will create environments where they can prosper.

“In particular close examination is needed in costs relating to labour, aeroplane manufacturers and airports. Success will also be brought about by improved sales distribution channels, productivity and network alliances.”

Reid went on to deny reports the carrier is to relaunch itself as a low-cost carrier.

“BMI remains and will continue to remain a full service airline and we have no intention to become a budget carrier. We pride ourselves on the quality of our service.”