IATA yesterday revised downward its 2009 forecast, projecting a global airline industry loss of $4.7 billion for the year, a near-doubling of the $2.5 billion loss it forecast in December. Collective revenue is expected to decrease 12% year-over-year to $467 billion. "The state of the airline industry today is grim," DG and CEO Giovanni Bisignani said. "Demand has deteriorated much more rapidly with the economic slowdown than could have been anticipated even a few months ago." IATA now is ...

Subscribe to Access this Entire Article

"IATA lowers 2009 forecast to $4.7 billion worldwide loss" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.