Air Travel IATA Projects Loss for Airline Industry in 2009 by Nikos Krinis 1 February 2009 written by Nikos Krinis 1 February 2009 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 5 The International Air Transport Association (IATA) announced its forecast for 2009. It expects an industry loss of 2.5 billion dollars. All regions, except the U.S., are expected to report larger losses in 2009 than in 2008. IATA said that cargo traffic is expected to decline by five percent, following a drop of 1.5 percent in 2008 (prior to 2008 the last time that cargo declined was in 2001 when a six percent drop was recorded). IATA also updated its forecast for 2008 to a loss of five billion dollars. This is slightly improved from the 5.2 billion dollar loss projected in the association’s September forecast primarily as a result of the rapid decline in fuel prices. Giovanni Bisignani, IATA’s director general and CEO said that 2009 would be another tough year for everyone. He mentioned the losses for European carriers, which are expected to increase ten-fold to one billion dollars. According to IATA, Europe’s main economies are already in recession, while hedging has locked in high fuel prices for many of the region’s carriers in U.S. dollar terms and the weakened euro worsens the impact. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail Nikos Krinis Nikos is Greek-American born in New York, USA, and has lived in Greece for over 30 years. He is the managing editor of Greece's leading monthly travel and tourism guide, the Greek Travel Pages (GTP) since June 2008 and of news site GTP Headlines since its launch in September 2012. Nikos has also served as international press officer for the City of Athens and for the mayor. He has a degree in Mass Media and Communications, specializing in Journalism. Nikos is a native English speaker and speaks Greek fluently. previous post Greece Fourth Place for Austrians next post A note by the publisher You may also like Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 ITA Airways Unveils New Commercial Benefits as it Joins Lufthansa Group 4 February 2025 SKY express: Free Tickets for Children, Teachers on All Santorini-Athens Flights 4 February 2025 AEGEAN May Extend Special Flights to/from Santorini Amid Seismic Activity 4 February 2025 SKY Express: Emergency Flights to/from Santorini on February 3-4 3 February 2025 ITA Airways: North America Flights, New Routes, Fleet & Sustainability 3 February 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
