newstodate.aero
Dec 11, 2008 (newstodate): IATA forecasts bleak prospects for the airline industry in 2009.
All regions, except the US, are expected to report larger losses in 2009 than in 2008.
Industry revenues are expected to decline to USD501 billion, yields will decline by 3.0 percent, passenger traffic is expected to decline by 3 percent following growth of 2 percent in 2008, and cargo traffic is expected to decline by 5 percent, following a drop of 1.5 percent in 2008.
On the positive side, IATA expects the 2009 oil price to average USD60 per barrel, accruing to a total bill of USD142 billion - down USD32 billion on 2008 when oil averaged USD100 per barrel.
-The outlook is bleak. The chronic industry crisis will continue into 2009 with USD2.5 billion in losses. We face the worst revenue environment in 50 years, says Giovanni Bisignani, IATA Director General and CEO.
The lower fuel price has had a positive effect on the forecasted loss at USD2.5 billion, earlier forecasted at USD4.1 billion.
All regions, except the US, are expected to report larger losses in 2009 than in 2008.
Industry revenues are expected to decline to USD501 billion, yields will decline by 3.0 percent, passenger traffic is expected to decline by 3 percent following growth of 2 percent in 2008, and cargo traffic is expected to decline by 5 percent, following a drop of 1.5 percent in 2008.
On the positive side, IATA expects the 2009 oil price to average USD60 per barrel, accruing to a total bill of USD142 billion - down USD32 billion on 2008 when oil averaged USD100 per barrel.
-The outlook is bleak. The chronic industry crisis will continue into 2009 with USD2.5 billion in losses. We face the worst revenue environment in 50 years, says Giovanni Bisignani, IATA Director General and CEO.
The lower fuel price has had a positive effect on the forecasted loss at USD2.5 billion, earlier forecasted at USD4.1 billion.