New negative forecasts for the airlines - Articole Transport-Business.ro

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The sales figures reported by the International Association of Air Transport (IATA) are shocking: in 2008, the members of the association lost 10,4 billion Dollars, and for this year they now anticipate losses amounting to 9 billion, instead of the 4,7 billion estimated in the beginning of 2009.

The biggest loss among the airlines will be recorded by operators in Asia-Pacific area with an amount of 3,3 billion US Dollars, then those in Europe (1,8 billion USD), in the Middle East (1,5 billion USD), in the North America (one billion USD), in Latin America (900 million USD) and in Africa (500 million USD).

According to Giovanni Bisignani, CEO of IATA, the impact of current economic crisis is worse than the attack of September 11th 2001. At that moment, airlines turnover fell by 7%, and it took three years to remedy the situation, despite the strong global economy. Now, the downfall could reach 15%, and it could take many more years to recover. ”This is the most serious crisis faced by air transport industry,“ said Bisignani, requiring a greater liberalization of the industry.