Declaring that the situation facing the world's airlines "has never been more difficult," IATA DG and CEO Giovanni Bisignani said yesterday in Washington that the airline industry now is expected to lose $11 billion this year, a deterioration from the association's forecast of a $9 billion loss issued at its AGM in early June. Key factors driving the downward revision are rising fuel prices and "exceptionally weak yields," which will cause revenues to decline by 15% or $80 billion this year ...

Subscribe to Access this Entire Article

"Printer-friendly" 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.