Home Tags Europe
The European Commission was severely rebuked by the Court for its refusal to allow Airtours to acquire First Choice. But the verdict of the marketplace, in which Airtours is in desperate straits while First Choice has gone from strength to strength, confirms the wisdom of the Commission's decision: rarely has an anti-trust agency been so comprehensively vindicated by subsequent events.
Competitive advantage is based, not on doing what others already do well, but on doing what others cannot do as well. Not only is this true for individuals and for firms, but for countries as well.