Even airlines are getting in on the act, with Franco-Dutch carrier Air France-KLM currently in talks with Veolia Environnement's transport subsidiary over a possible joint venture in rail.
Berlusconi, widely expected to return as the prime minister of Italy following parliamentary elections in mid-April, is calling for a group of Italian investors to make a bid for Alitalia and prevent it from falling in the hands of Franco-Dutch airline Air France-KLM.
Even airlines are getting in on the act, with Franco-Dutch carrier Air France-KLM (other-otc: AFLYY - news - people ) currently in talks with Veolia Environnement (nyse: VE - news - people )'s transport subsidiary over a possible joint venture in rail.
We speak to airline CEOs Jean-Cyril Spinetta of Air France-KLM, British Airways' Willie Walsh BA, Ola Strand of SAS Norway, and Richard Branson, chairman of Virgin Group about the measures they're taking to weather this economic storm.
He predicted the "three high-fare connecting carriers" -- British Airways, Lufthansa and Air France -- would triumph at the top end of the market, while Ryanair would dominate the low-cost carrier sector.
Africa probably isn't is that profitable a run, but Willie Walsh 's British Airways (nyse: BAB - news - people ) and its various subsidiaries and franchises, Air France-KLM Group (nyse: AKH - news - people ) and Egyptair all stand to profit from Kinshasa's misfortune.
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Both British Airways and Air France, the only airlines to fly Concordes, suspended operations to carry out multi-million pound refits after an Air France Concorde burst into flames on take-off from Paris in July 2000, killing 113 people on board and on the ground.
In alphabetical order, the winners are: Air France-KLM, AMR Corporation (American Airlines, American Eagles), British Airways, Continental Airlines, Delta Air Lines, Japan Airlines, Lufthansa, Southwest Airlines, United Airlines and US Airways.
The two big mergers in Europe -- between Air France and KLM, and British Airways and Iberia -- had been accomplished through the creation of holding companies, allowing the respective airlines to operate independently and remain nationally-owned, he said.
The French state's stake in the Air France-KLM merger is set to be 44 percent.
And like Air France-KLM, while the pair will combine their businesses they will maintain separate corporate operations.
However, as was the case with the Air France-KLM merger in Europe, the airlines' brands would remain separate.
Several big airline groups, notably Air France-KLM, are trying to make deep cuts.
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Air France-KLM plans to cut down flights out of the city's Malpensa airport and make Rome its only hub.
Air France-KLM, British Airways, Lufthansa and others carried out over 40 flights.
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Among the European stocks that are sensitive to the economy and were being heavily lent out were airlines like British Airways and Air France-KLM.
Spanish airline Iberia and Hong Kong's Cathay have reported losses, while others such as British Airways and Air France-KLM have seen profits fall sharply.
Air France-KLM, the Franco-Dutch airline, says it made a big loss in 2012, blaming sharply rising fuel costs and trouble with its cargo business.
"If this expanded version was launched, Air France-KLM could order a significant amount, " Spinetta was quoted as saying by the French business daily La Tribune.
Air France-KLM scrapped its bid last week amid opposition from unions.
While Air France-KLM has successfully got the go-ahead for an antitrust alliance with Northwest and Delta, British Airways and American Airlines have been less fortunate.
Air France-KLM incurred a substantial operating loss in 2011 for the fourth straight year, due, among other things, to rising fuel costs, a senior executive said.
However, Italian Prime Minister Romano Prodi said last week that the Italian government would not block any move by Air France-KLM as long as it maintained the bulk of Alitalia's flights.
Air France-KLM's CEO said the airline group will succeed in cutting costs and return to profitable growth, despite posting a big loss last year and facing further discussions with labor unions.
Africa probably isn't is that profitable a run, but Willie Walsh 's British Airways and its various subsidiaries and franchises, Air France-KLM Group and Egyptair all stand to profit from Kinshasa's misfortune.
Air France-KLM is renegotiating pay and conditions with its staff and cutting more than 5, 000 jobs, as high fuel costs and competition from low-cost airlines take their toll on the debt-laden company.
European regional airlines, squeezed on one side by low-cost rivals like easyJet and Ryanair and on the other by the big network operators, such as Air France-KLM and Lufthansa, are especially vulnerable.
Their combined revenues will put them closer to Air France-KLM, the product of a similar deal in 2004 and Germany's Lufthansa, which has expanded its operations with a series of smaller takeovers of Swiss and Austrian airlines since 2005.
Air France-KLM and Alitalia may not be the best of friends, following the Franco-Dutch carrier's tortuous failed attempt to acquire its near-bankrupt Italian rival earlier this year, but on Tuesday Silvio Berlusconi extended an olive branch to keep the carriers on good terms.
"The Air France-KLM alliance has a door wide open to Alitalia and the day that they will want to come through that door we will be delighted to welcome them, " Transport Secretary Dominique Bussereau told Reuters in Rome on Friday after meeting his Italian counterparts.
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