IATA: Airline industry to post $4.7b loss in 2009

The International Air Transport Association released its updated 2009 industry forecast, and the news is grim.  Per the Wall Street Journal:

For 2009, the IATA said it now expects an aggregate industry loss of $4.7 billion, compared to a loss of $2.5 billion that it forecast in December.

“The state of the airline industry today is grim,” said Giovanni Bisignani, head of the trade group. “Demand has deteriorated much more rapidly with the economic slowdown than could have been anticipated even a few months ago.”

[..] Falling fuel prices are helping to curb even larger losses for the airline industry. “Fuel is the only good news,” Mr. Bisignani said. “But the relief of lower fuel prices is overshadowed by falling demand and plummeting revenues. The industry is in intensive care,” he said.


Leave a comment

Filed under commerce, news

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s