IATA chief says drastic measures are "matter of survival"

10/1/2008 | Wall Street Journal, The

With air freight falling for a third consecutive month and passenger growth almost at a standstill, the head of the International Air Transport Association says urgent action is "a matter of survival." Giovanni Bisignani, IATA's director general, said at least 20 airlines face bankruptcy, on top of the 30 that already have stopped flying this year. "From taxation to charges and operational efficiencies, all areas impacting the business must be examined for ways to reduce costs and drive efficiencies," he said.

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