Losses will continue in Europe

Losses will continue in Europe - IATA

: Latest News; Wednesday, 09 June 2010

Despite announcing a profit turnaround for the world's airlines, the International Air Transport Association (IATA) says Europe is still weak and its airlines should expect a US$2.8bn loss this year.

IATA says slow growth, strikes at airlines, the eurozone debt crisis and disruption from the volcanic ash cloud are hampering the recovery.

IATA earlier said the global industry will post a US$2.5 billion profit in 2010, scrapping its earlier US$2.8 billion deficit prediction.

Losses will continue in Europe - IATA

Latest News

Wednesday, 09 June 2010

Despite announcing a profit turnaround for the world's airlines, the International Air Transport Association (IATA) says Europe is still weak and its airlines should expect a US$2.8bn loss this year.

IATA says slow growth, strikes at airlines, the eurozone debt crisis and disruption from the volcanic ash cloud are hampering the recovery.

IATA earlier said the global industry will post a US$2.5 billion profit in 2010, scrapping its earlier US$2.8 billion deficit prediction.