The world's airlines will lose $5.5 billion in 2005 if oil prices average $43 per barrel for the full year, IATA DG and CEO Giovanni Bisignani stated yesterday in New York (on April 1, the price of the May crude-oil contract hit a record $57.70 a barrel on the NY Mercantile Exchange, the Wall Street Journal reported). "The high price of fuel is robbing our profitability," Bisignani said as he repeated calls for governments to reduce the tax burden on the industry. "Deregulation was meant to ...

Subscribe to Access this Entire Article

"Airline losses could reach $5.5 billion this year, IATA warns" 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.