Thousands of flights scrapped by airlines

Services are being cut as carriers respond to the economic crisis, while bookmakers take bets on the next airline failure. By David Millward and Charles Starmer-Smith Figures show that demand for travel is shrinking throughout the world Photo: GETTY Bookmakers Paddy Power had Alitalia at 11-10 to be the next airline to go into administration, before closing betting this week Photo: REUTERS More than 46 million airline seats will be cut over the next three months as the aviation industry is engulfed by the economic crisis. The latest figures compiled by OAG (Official Airline Guide) show that demand for travel is shrinking throughout the world. Carriers plan to operate half a million fewer flights between October and December compared with the same period last year. At least 45 European airports will lose all scheduled services... [read full story]