Airlines face worst crisis for 50 years - IATA
Global airlines are heading into their worst business crisis for 50 years with carriers facing possible collapse, revenues tumbling and hundreds of thousands of jobs at risk, the industry body IATA said on Tuesday. In a forecast for 2009, it said losses were expected to total $2.5 billion despite a boost from falling oil prices, with European airlines' deficits soaring tenfold over 2008 to $1 billion and Asia-Pacific's doubling to $1.1 billion. "The outlook is bleak and the chronic industry crisis continues as we face the toughest revenue environment in 50 years," said Giovanni Bisignani, director-general of the organization which groups some 230 international airlines.
No comments:
Post a Comment