Monday, March 30, 2009

IATA: 2009 is the grim year of airlines industry


Airline industry associations (IATA) said the year 2009 is a dismal year, and estimates the airline losses this year will reach 4.7 billion U.S. dollars (3.4 billion euros) because of global economic conditions deteriorating quickly.
The new prediction which presented on IATA annual media event increased sharply compared to IATA estimates that in December of 2.5 billion U.S. dollars.
IATA also increase the estimated total losses of the airline in 2008 from 8.0 billion U.S. dollars to be 8.5 billion U.S. dollars. "The situation in the airline industry at present is bleak," said IATA Director General Giovanni Bisignani.
"The request came down far more quickly than with the economic crisis that has been anticipated even a few months ago," he added.
Demand is estimated to continue declining, with the passenger traffic drop 5.7 percent this year. Although at the end of this year are expected to be improved.
According to IATA, airlines of Asia-Pacific is experiencing the biggest loss this year is worth 1.7 billion U.S. dollars when demand fell 6.8 percent.
European airlines have predicted loss 1.0 billion U.S. dollars. The Middle East airlines lose 900 million U.S. dollars.
Only North American airlines will gain 100 million U.S. dollars, while they benefit from good management capacity and fuel prices lower.