This paper analyzes airline reactions to the COVID-19 crisis in the spring months of 2020 along the typical crisis response strategies of retrenchment, persevering, innovating, and exit. Based on the content analysis of 148 news items filtered from a daily aviation industry newsletter published during the unfolding of the crisis in Europe (from January 6 to June 2), the paper specifies and differentiates European airlines’ strategic responses, outlines key implications for the post-COVID-19 competitive landscape, and raises attention points for managers and policy makers. •Analyzes European airlines strategic reactions to the COVID-19 pandemic.•Differentiates and specifies European airlines responses along retrenchment, persevering, innovating and exit strategies.•Governments might act as change agents; preventing the collapse of large carriers, but hindering efficient decision-making.•Suggests impact on business model convergence; network carrier and low-cost carrier propositions likely drift apart again.•Suggests cementation of industry structures; the consolidation that was underway is halted at least temporarily.