Airlines' recovery from the current recession will be slower than in previous downturns owing to a substantial debt burden for consumers and businesses that is likely to curtail spending even after economic growth returns, IATA Chief Economist Brian Pearce told reporters yesterday in Washington. "[Airline] customers, both households and businesses, have been left with a massive amount of debt and [have experienced] a deterioration in wealth," he explained. "I think people are going to be ...
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