Economics Snapshot - Losses in Global Aviation

Thursday, July 23, 2009

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

Posted to A2 Micro • AS Micro • Credit Crunch • Global Economy • Transport Economics • Quirky Trivia
Tags: airlines, profit, losses, premium passengers
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East Coast Rail Line is Nationalised

Wednesday, July 01, 2009

by Geoff Riley

The profitable East Coast rail line north of Newcastle heading into Northumberland towards Berwick upon Tweed is one of the most glorious on the entire British rail network. There are stunning views looking out to Holy Island, Bamburgh Castle and the delightful village of Alnmouth. And as trains pull out of Durham there is a fantastic panorama featuring Durham Cathedral, a view to take the breath away whatever the weather. Even the most hardened commuter is tempted away from their laptop to soak up the view. It is unlikely that senior executives at National Express will be in the mood to savour these delights since the government is taking the East Coast rail line that runs from London to Edinburgh into public ownership.

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