New IATA forecasts released... pointing to an industry loss of US$4.7bn and passenger numbers down c6% (for their 230 airlines).
On Europe expect capacity cuts of 5%.
.... grim reading...
Grim Prospects - Deep Recession, Bigger Losses
“The prospects for airlines are dependant on economic recovery. There is little to indicate an early end to the downturn. It will be a grim 2009. And while prospects may improve towards the end of the year, expecting a significant recovery in 2010 would require more optimism than realism,” said Bisignani.
says it all really....