When IAG decided to develop its new long-haul, low-cost airline Level, its head of strategy Robert Boyle says the airline group focused on how to attract Europe s millennials with an attractive low ticket price packaged in a way that would engage them in the excitement of long distance travel.

Europe s airlines were largely profitable on an operating level in 2016, as low fuel prices and a strong focus on cost-cutting helped them to eke out profits, despite a tough yield environment.

What is the greatest threat facing Ryanair? For chief executive Michael O'Leary, it's not the risk of creeping protectionism across Europe post-Brexit, or overcapacity in the short-haul market, or the challenge posed by disintermediators. Rather, it lies closer to home, he suggests in characteristically robust language.

While Lufthansa is hopeful of operating nearly all its scheduled flights on 1 December as the latest walkout by pilots draws to an end, the strain on its services and labour relations continues to take a toll amid its long-running efforts to secure cost-efficiencies.