US$6 billion 1H losses for airlines

Airlines around the globe lost more than US$6 billion during the first half of the year due to the economic crisis, even as fresh figures showed some signs of recovery in the passenger and freight business, International Air Transport Association (IATA) said this week. A sample of more than 50 airlines found their losses declined […]


airline industry IATA International Air Transport Association losses recession


Airlines around the globe lost more than US$6 billion during the first half of the year due to the economic crisis, even as fresh figures showed some signs of recovery in the passenger and freight business, International Air Transport Association (IATA) said this week. A sample of more than 50 airlines found their losses declined to $2 billion in the second quarter from $4 billion in the first quarter, according to IATA. The April-June period is usually a strong one for the industry. “Since the sample of airlines is incomplete, total industry losses in the first half of 2009 are likely to have been in excess of the reported $6 billion,” IATA warned.