Forecast: Global airlines to lose $9B in 2009

Airlines around the world could lose a combined $9 billion this year, an outlook nearly twice as grim as the one issued just three months ago. Revenues could fall by a record 15%, or $80 billion, according to an updated forecast from a global industry group. North American carriers are expected to lose $1 billion due to early capacity cuts and limited U.S. airlines hedging.

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