Thursday, June 11, 2009

Aviation Industry Lost 9 Billion U.S. Dollar


IATA (The International Air Transport Association) revised the projection of the world aviation industry losses in 2009 from 4.7 billion U.S. dollars to be 9 billion U.S. dollars.

IATA also revised the loss of the world flight industry in 2008 from 8.5 billion U.S. dollars to be 10.4 billion U.S. dollars, said IATA Director General Giovanni Bisignani in Kuala Lumpur, Malaysia, Monday (8 / 6).  He explained the projected revision of the world aviation industry losses at the IATA 65th annual meeting in Kuala Lumpur, 7-9 June 2008 that was attended by 500 world leaders airline.  No events are a prominent cause of the world economy is now listless, but aviation industry experienced severe shocks.

Compared with the September 11 events when the business of aviation industry fell to seven percent. Need three years for recovery. However, at this time, the world flight face up to 15 percent decline. Loss of income 80 billion U.S. dollars in the midst of global economic crisis. The future of world flight industry is highly depend on cooperation between the aviation industry partners, government and aviation industry itself.

Malaysia PM Najib Tun Razak says Malaysia government has provided the stimulus to the their flight industry, by giving 50 percent discount to the cost of landing at KLIA for two years beginning April 2009. Airlines will benefit about 200 million Malaysia Ringgit. Giovanni says economic recession at this time is the most bad impact to aviation industry. IATA had to revise earnings projections of 15 percent from 528 billion U.S. dollars in the year 2008 to be 448 billion dollars in 2009.