Editorial: "Let the market chart a course for the industry"

12/11/2008 | Wall Street Journal, The

The Wall Street Journal weighs in on the proposed merger between British Airways and Qantas, arguing that governments should not interfere with the "ambitious bet on the economies of scale that might come from creating the first truly global carrier." Despite concerns about national pride and national security, the Journal says local taxpayers are hurt when flag carriers fail despite government protections. "Just ask Italian taxpayers paying for their government's earlier hostility to foreign bidders for dysfunctional Alitalia," the editorial concludes.

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Wall Street Journal, The

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