Latin American Airlines Will Close 2009 With
a Profit
GENEVA - Latin American airlines will
be the only ones in the world to close the
year with a profit of about 100 million
dollars, announced the International
Association of Transportation by Air (IATA).
These results are mostly due to a relative
strength in South American economies and
efficiency of regional airlines structures,
IATA reported.
According to a report of this sectorial
institution the remaining companies confront
another bad year in 2010 since they will
face losses of up to 5.6 billion dollars in
spite of a slight recovery of passenger and
cargo transportation.
Since 2000 airlines have lost 49 billion
dollars as a result, in part, of low yields
and growing costs, IATA added in its report.
Group executive director, Giovanni Bisagnani,
affirmed that the worst is probably behind.
"Some key figures are moving in the right
direction. Demand will probably continue to
improve and that airlines are expected to
lower non fuel related costs, he added.
Bisignani assured that general market
conditions will be poor in 2010 due to an
excess number of planes and reduction in
travel budgets of the companies |
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