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The fact that there hasn't been any action in a while doesn't mean there isn't room for more. Richard Anderson, CEO of Delta Airlines (DAL), says that the airline industry could consolidate further -- not exactly a shock in an industry that is known for universal financial suffering. He notes, "If a transaction were to occur, economics should prevail."
The only concern, of course, is whether the Obama administration would sign off on any future deals. Anderson believes, "I think the case can be made ultimately, but it remains to be seen what this administration's take will be."
Delta was the last airline to make an acquisition, when it added Northwest to the fold. Anderson didn't indicate whether Delta still had an appetite for acquisitions, but some analysts have speculated that Alaska Air Group or JetBlue Airways (JBLU) may be on the company's radar. Other ideas kicked around by the analyst community include Continental Airlines (CAL) and United (UAUA) and American Airlines (AMR) and US Airways (LCC).
Watch this sector going forward. It's hard to believe that another major merger won't happen, even if it is ill-fated.
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