$8 billion loss for airlines in 2008

The world’s airlines lost up to $8 billion in 2008, $3 billibon more than was expected said IATA last month. The organization also said passenger traffic declined 5.6% year-over-year in January 2009 and cargo traffic was down 23.2%. Premium traffic fell even faster, with passengers flying on first or business class tickets plunging 16.7% year-over-year. IATA estimated that revenues from premium paying passengers were down at least 25% in January 2009.

How long it takes when some of the big ones collapse? Will it be in America or in Europe, that is hard to guess but if the economical situation keeps getting worse, I doubt that all will survive. No, Alitalia don’t belong to big ones Peter

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Tagged as: Business, International Air Transport Association