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Economics Snapshot - Losses in Global Aviation
Geoff Riley
23rd July 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
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.