IATA’s Latest Forecast Grimmer than Ever
The International Air Transport Association (IATA) issued an adjusted outlook for the global air transport industry today that forecasts losses of $4.7 bil

The International Air Transport Association (IATA) issued an adjusted outlook for the global air transport industry today that forecasts losses of $4.7 billion for the year. The prediction nearly doubles the projection for losses it issued only three months ago, when it forecast a $2.5 billion loss for 2009.

IATA expects revenues to fall by 12 percent to $467 billion. By comparison, the decline following the events of Sept. 11, 2001, saw industry revenues fall by about 7 percent.