Airline losses set to exceed $4 billion
WTM 2004 Special: Airline losses are set to exceed $4 billion in 2004 following the sharp increase in jet fuel, according to the International Air Transport Association.
IATA, which represents 267 airlines throughout the world, said the cost of aviation fuel, which rose to over $50 a barrel, will lead to members losing more than the $3-$4billion estimated earlier this year.
The forecast was revealed in World Travel Market’s Global Travel Report 2004-05.
According to IATA, every additional $0.01 (one cent) increase in the price of jet fuel adds over $500 million in industry costs. Airline industry costs are currently running at $10 billion over 2003 levels.
Meanwhile, trips involving no-frills carriers in Europe increased by 24 per cent from January to August 2004, compared with the same time last year, and now account for 25 per cent of all air trips abroad from Europe.
Report by Jeremy Skidmore
Ginny McGrath
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.

































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025