15 JUNE 2009

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Article from BTNews 15 JUNE 2009

IATA warns of more airline losses

IATA held its AGM at Kuala Lumpur last week with Director General Giovanni Bisignani warning that 2009 will be another year of big losses for the world’s airlines.  He said that airlines will lose a total of USD9bn taken with the USD10.4bn airlines lost in 2008 and that with the return of higher fuel prices the global recovery was being put at risk.  He said "Greedy speculation must not hold the global economy hostage.  Failure to act by governments would be irresponsible.  We must use this crisis as an opportunity for governments, partners and airlines to build a stronger industry.  Travel is more accessible than ever in price and purchase options.”  Turning specifically to the airlines he said “To survive in the global online market, you need to reshape your services and business models to provide the greater value that travellers are willing to pay for."  Mr Bisignani will be ON THE SOAPBOX for the first July issue of AERBT (6 July 2009). www.iata.org/pressroom/speeches/2009-06-08-01.htm

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