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"Got no Privacy, Got no Liberty; 'Cause the 20th Century people took it all away from me." from "20th Century Man", The Kinks
Thursday, January 29, 2009
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Monday, January 26, 2009
Tuesday, January 20, 2009
Thursday, January 15, 2009
Tuesday, January 13, 2009
Monday, January 12, 2009
Financial Forecast-Aviation 2009
The International Air Transport Association (IATA) announced its forecast for 2009 showing an industry loss of US$2.5 billion. All regions, except the US, are expected to report larger losses in 2009 than in 2008.
Forecast highlights are:
Industry revenues are expected to decline to US$501 billion. This a fall of US$35 billion from the US$536 billion in revenues forecasted for 2008. This drop in revenues is the first since the two consecutive years of decline in 2001 and 2002.
Yields will decline by 3.0% (5.3% when adjusted for exchange rates and inflation).
Passenger traffic is expected to decline by 3% following growth of 2% in 2008. This is the first decline in passenger traffic since the 2.7% drop in 2001.
Cargo traffic is expected to decline by 5%, following a drop of 1.5% in 2008. Prior to 2008 the last time that cargo declined was in 2001 when a 6% drop was recorded.
The 2009 oil price is expected to average US$60 per barrel for a total bill of US$142billion. This is US$32 billion lower than in 2008 when oil averaged US$100 per barrel.
“The outlook is bleak. The chronic industry crisis will continue into 2009 with US$2.5 billion in losses. We face the worst revenue environment in 50 years,” said Giovanni Bisignani, IATA’s Director General and CEO.
Worst Year on Record.
