IATA’s grim prediction for airlines

The world’s airlines face one of their toughest years ever the International Air Transport Association is warning.

It has just released figures from its 230 member airlines showing air cargo plunged by nearly a quarter in December compared to a year earlier and cross-border passenger traffic dropped by 4.6 percent.

IATA called that an “unprecedented and shocking” free fall that signals a broader slump in world trade and it added “the bottom is nowhere in sight.”

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tags: Airlines, Economy, Financial Crisis