Price of fuel adds to airline industry's woes; massive losses are in sight for 2004
The International Air Transport Assn. is predicting that the airline industry this year will post losses as high as $10 billion. In a difficult economic environment, airlines are beset by rising aviation fuel costs while yields remain unstable as low-fare carriers gain market share. IATA Chief Executive Giovanni Bisignani told Aviation Week & Space Technology that $8-12 billion is likely to be added this year to the 270-member airlines' combined fuel bill. Last year, IATA ...
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