Estimated losses for the global air industry are expected to nearly double from December's forecast for 2009 as air carriers grapple with the worst crisis in over 60 years, with the International Air Transport Association (IATA) saying a significant recovery in 2010 would "require more optimism than realism". The IATA has announced a revised outlook for the global air transport industry with losses of US$4.7 billion in 2009, significantly worse than its December forecast of US$2.5 billion in … [Read more...] about IATA ups '09 forecast with $4.7B industry loss
IATA
ASEAN must aim high in market liberalisation
ASEAN has missed the December 2008 deadline to open markets between capital cities on a multilateral basis, said the director general and CEO of the International Air Transport Association's (IATA), Giovanni Bisignani. "Malaysia must be a strong voice encouraging ASEAN member states to fulfill their obligations under the ASEAN Roadmap for the Integration of the Air Travel Sector (RIATS) and to meet the 2010 milestone. "ASEAN must aim high. A single market including ownership liberalisation by … [Read more...] about ASEAN must aim high in market liberalisation
IATA: $2.5B loss in ’09 is optimistic
International Air Transport Association (IATA) DG and CEO Giovanni Bisignani said the organisation's December forecast of an industry-wide US$2.5 billion loss in 2009, based on a 5 per cent drop in cargo volumes and a 3 per cent drop in passenger numbers, "is now looking very optimistic." He said IATA will release a revised forecast next week, adding that, "the only good news is that the spot price of fuel is low. Unfortunately, immediate relief is being delayed by hedging at higher prices," he … [Read more...] about IATA: $2.5B loss in ’09 is optimistic
IATA: $2.5B loss in '09 is optimistic
International Air Transport Association (IATA) DG and CEO Giovanni Bisignani said the organisation's December forecast of an industry-wide US$2.5 billion loss in 2009, based on a 5 per cent drop in cargo volumes and a 3 per cent drop in passenger numbers, "is now looking very optimistic." He said IATA will release a revised forecast next week, adding that, "the only good news is that the spot price of fuel is low. Unfortunately, immediate relief is being delayed by hedging at higher prices," he … [Read more...] about IATA: $2.5B loss in '09 is optimistic
Industry has not yet hit bottom~ IATA
Industry has not yet hit bottom: IATA Continued falling cargo demand has led the International Air Transport Association (IATA) to urge the cargo supply chain to improve security and efficiency to deliver a more enticing product. In remarks delivered by video to IATA's World Cargo Symposium in Bangkok, CEO Giovanni Bisignani said: "The industry is in crisis and nobody knows that better than our cargo colleagues. Cargo demand has fallen off a cliff." ¡°After a shocking 22.6 per cent decrease in … [Read more...] about Industry has not yet hit bottom~ IATA
Deeper cargo drop in Jan
Figures for January released by IATA show air freight and passenger traffic heavily down again, dropping 23.2 and 5.6 per cent respectively. The sharp fall in air freight was even deeper than the 22.6 per cent drop in December and marks the eighth consecutive month of contraction for freight traffic. Asia Pacific carriers, representing 43 per cent of the market, led the cargo decline with a 28.1 per cent year-on-year drop. This was followed closely by the other major market players: European … [Read more...] about Deeper cargo drop in Jan
