The Long Haul to Profits

Those $22 Ryanair flights from London to Milan are all well and good, but if you're off to Chicago this week, you'll still have to do business with one of those big, dumb dinosaurs we used to call the major airlines. For all of the red ink they've been spilling, Europe still needs its British Airways, KLMs and Lufthansas. The trouble, as British Airways ceo Rod Eddington will tell you, is that it just doesn't need so many of them. "If you look at North America, you have four or five full-service carriers," says the 52-year old Australian, who took over...