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IATA: Industry may have reached traffic 'floor' but revenues still suffering
IATA said yesterday that May passenger and cargo traffic figures revealed a stabilization in demand declines but warned that airline revenue is still falling sharply.
"We may have hit bottom, but we are a long way from recovery," DG and CEO Giovanni Bisignani said. "Capacity is not aligned with demand." He said that following a 20% fall in international passenger revenue in the first quarter, "we estimate that the drop accelerated to as much as negative 30% in May. This crisis is the worst we have ever seen."