Assn. of European Airlines warned that Europe's network carriers are facing not a "crisis" but "a paradigm shift with far-reaching and irrevocable consequences" as it forecast that its member airlines will post a combined full-year 2009 operating loss of €2.9 billion ($4.3 billion). AEA noted that 34,000 European airline jobs will be lost by year end, the single biggest drop in employment on record. In a state of the industry presentation obtained by this website, the organization ...

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