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Old 24th Mar 2009, 23:47
  #2130 (permalink)  
Wee Weasley Welshman
 
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'Sick' aviation industry on a flight path to $4.7bn losses, warns IATA


The aviation industry is "structurally sick" and heading for a $4.7bn (£3.2bn) net loss this year, the director general of the International Air Transport Association has warned.

By Alistair Osborne, Business Editor
Last Updated: 8:07PM GMT 24 Mar 2009
Giovanni Bisignani said that, in the space of just three months, IATA had revised down December's forecast of $2.5bn losses to reflect "the rapid deterioration of global economic conditions".
Industry revenues are now expected to fall by 12pc, or $62bn, to $467bn in 2009 – far worse than the decline seen after the 2001 terrorist attacks when revenues fell $23bn to $306bn, a 7pc decli....


'Sick' aviation industry on a flight path to $4.7bn losses, warns IATA - Telegraph



Hells teeth. You couldn't get it spelled out any more clearly really.




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ps - did someone around here last year say that the oil price was a sideshow and that it would be falling demand that was going to be the main event or am I getting confused?
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