22.9 C
Bucharest
May 6, 2021
BUSINESS

IATA: Airlines’ losses hit USD 3 bn

In Q1, air transport operators reported total losses of USD 3 bn, according to the International Air Transport Association (IATA), who reconfirms its 2009 USD 9 bn forecast loss, according to Mediafax.


The Geneva-based lobby organization Tuesday announced that the low demand for passenger transport and the shrinking freight transport activity in the context of the world recession had severely affected airlines’ revenues, noting ‘a severe deterioration compared to last year’s situation’, Reuters reports.


‘the deterioration started before the recent rise of fuel prices’, IATA warns, showing that the 30 per cent rise of oil quotations since the beginning of May will be an extra burden on airlines’ budgets in the next months. Nonetheless, the association has not revised its prognosis regarding the estimated USD 9 bn airlines’ loss in 2009 from USD 10.4 bn last year.


IATA represents over 200 airlines around the world. On the other hand, the European Commission (EC) Tuesday announced its intention to propose the drafting of a world ‘black list’ of ‘unsafe’ airlines.


‘My idea is to have a world black list, like the one we have in the EU’ said EU Transport Commissioner Antonio Tajani at a press conference held immediately after the jet crash off the coast of the Comoros Islands. According to Tjani, the Commission will contact the Yemenia Airlines who owns the aircraft for details on the circumstances of the accident.

Related posts

European Commission initiated unexpected raids at banks

Nine O' Clock

ECB keeps interest rates on hold at 0.25 pc

Nine O' Clock

UniCredit Tiriac Bank and ERGO Asigurari de Viata launched ‘Capital Activ’

Nine O' Clock