2010 forecast improves for international airline industry – Mar. 11, 2010
The international airline business is improving, said an industry group Thursday, and while losses are still expected for 2010, they should be half the size previously forecast.
The International Air Transport Association, a group representing airlines around the world, revised its 2010 projections to a loss of $2.8 billion.
It was a very different picture just a few months ago, in December, when the IATA forecast a $5.6 billion loss for 2010. Recent signs of recovery in the industry prompted the change, the IATA said.
“The improvement is largely driven by a much stronger recovery in demand seen by year-end gains that continued into the first months of 2010,” said the IATA, in its written report.
The IATA also lowered its loss estimate for 2009 to $9.4 billion from a prior forecast of an $11 billion loss.
The organization said airlines in Asia and Latin America are picking up the slack for the dismal market in North America and Europe.
via 2010 forecast improves for international airline industry – Mar. 11, 2010.