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Airlines set to lose $9 billion this year
08 June 2009
IATA says airlines are expected to post losses of $9 billion this year, with a 15% fall in revenues, and urges the industry to fundamentally restructure and resize in the face of unprecedented challenges.
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IATA
British Airways
Air France-KLM
Giovanni Bisignani
IATA has warned that the aviation industry must fundamentally restructure and adapt to the new economic realties of the day, as airlines are set to lose $9 billion this year with an unprecedented fall in revenues.
Giovanni Bisignani, IATA general director and CEO, said airlines, governments and partners must all share responsibility for building a stronger industry and urged them to use the downturn as an opportunity to resize and reshape.
Airlines are expected to post losses of $9 billion this year, with revenues shrinking 15%, or $80 billion, to $448.billion....
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