Source: http://www.iata.org/NR/rdonlyres/250BD608-E428-4A49-B833-20C0E5B99344/0/industry_times_january2009.pdf
- International airlines saw a fall of 13.5% in cargo traffic in November and a drop of 4.6% in passengers as business shrank across the industry, the carriers' grouping IATA said on Tuesday.
- This has been the sharpest decline since 9 /11.
- The airline industry sees revenues tumbling & hundred of thousands of jobs being at risk.
- With the drop in passengers (in actual terms) the airlines are operating at 73%.
And this scenario is expected to intensify. - Further in America - which includes the United States, Canada and Mexico - carriers saw a decline of 14.4% in cargo and 4.8% in passengers.
- Europe recorded an 11% slump in cargo and 3.4% in passengers as the major markets for its airlines - intra-continental, the North Atlantic and Asia - all sunk deeper into economic woes.
- Despite the fall in oil prices and a low demand scenario for oil that will keep the price of oil soft, the industry is estimated to generate losses to the tune of US$ 2.5 billion in next year.
