Airline losses in the fourth quarter higher than expected
Airline losses in the fourth quarter were $4 billion, considerably higher than first expected and leading to a total 2008 loss of $8 billion, according to a Monday report from the International Air Transport Association.
Two weeks ago, the trade group forecast a $5 loss for the full year. "Unlike earlier in the year, airlines are now losing money at the operating level," IATA said in a statement. Airlines also parked 73 older aircraft in the recent quarter as they cut capacity to meet falling demand. "Load factors have been falling sharply since September, as airlines have found demand falling away faster than they have been able to cut capacity," the group said. "In January average load factors were 2.8% points below the level of the previous year."
Source: Market Watch
Karen
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports