European airline failures play into hands of richer rivals

First Alitalia, then Air Berlin and now Monarch Airlines: Europe's struggling carriers are falling like dominoes and the region's biggest airlines are set to chalk up bigger profits. The collapse of airlines gives rivals a chance to snap up planes, prized airport slots and much-needed pilots. It takes airplane seats out of the market, allowing airlines still flying to nudge prices higher and lift some of the pressure on yields that has plagued the industry for several years. The shake-out this year is also seen as the start of more far-reaching industry consolidation that is expected to whittle the number of European airlines down to numbers more on a par with North America - putting the survivors in a position to boost profitability to levels seen across the Atlantic. <br/>