Dragons fly

摘要

OVER the past few decades, established airlines in Europe and America have been hit by one thing after another. First came low-cost carriers, chipping away at their short-haul routes. Lately, a new crop of super-con-necting airlines in the Gulf, Emirates, Etihad and Qatar Airways, has lured away their long-haul passengers with superior service and lower fares. Now looms the biggest threat of all-the rise of several promising Chinese airlines (see Business section). Unfortunately, the response of the incumbents risks depriving passengers of the benefits from this latest wave of competition.