As Airline Losses Mount, 2009 Outlook Darkens , IATA Finds

IATA expects carriers to lose $4.7 billion this year as a result of a sharp 12% fall (or $62 billion) in revenue. The industry forecast has quickly worsened and a solid recovery is not expected until 2011. The steady decline in passenger and cargo business has forced IATA to revise its loss forecast...

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