IATA: 2009 global losses less severe, North America to see profit
The International Air Transport Association says 2009 will be a dismal year for the industry worldwide, though lower fuel prices will limit the damage of plunging demand. On Monday, IATA lowered its global loss estimate to $2.5 billion, down from the $4.1 it had predicted just three months ago. "The improvement is due to an extraordinary situation for North American carriers," IATA chief Giovanni Bisignani told a press conference in Geneva. "North America will be the only region in the black, but the expected $300 million profit is less than 1% of their revenue."
Bloomberg
| 12/9
This story published in AIA dailyLead® on 12/09/2008
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