December 15, 2009 Leave a comment
The global airline industry will face another harrowing year in 2010, with losses expected to reach $5.6 billion despite some recovery in passenger and cargo traffic, an industry group said Tuesday.
Low yields and rising costs are a “continuing disaster” for world airlines, who have already lost $49 billion since 2000, according to the International Air Transport Association. The industry group maintained its estimate of $11 billion full-year losses for 2009.
“The worst is likely behind us,” said IATA chief executive Giovanni Bisignani. “Some key statistics are moving in the right direction. Demand will likely continue to improve and airlines are expected to drive down non-fuel unit costs.” Read more of this post