Forecast: $4.7B in losses for global airlines this year

03/24/2009 | Bloomberg · Wall Street Journal, The

An international airline body now predicts the industry will lose $4.7 billion worldwide in 2009, nearly double the $2.5 billion loss predicted less than four months ago. Passenger traffic is expected to slide 5.7% and cargo traffic by 13%. U.S. carriers, which began cutting capacity much earlier than their international rivals, are still forecast to earn about $100 million in profit this year, while every other region will see losses.

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Bloomberg · Wall Street Journal, The

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