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Economics Snapshot - Losses in Global Aviation

Thursday, July 23, 2009
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The global aviation industry is in crisis

IATA forecasts that airlines will lose $4.7bn in 2009
International passenger traffic is falling at an annual rate of 10%
Fares for First and Business class passengers have dropped by as much as 40% this year
In the decade to the end of 2007 airlines globally generated a revenue of $3.6 trillion and made a net profit of zero

Source: Wall Street Journal


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