Global airlines are expected to make losses of $9bn this year, double the level forecast in March, according to the International Air Transport Association.
Losses in the first three months of the year have been much worse than expected as a result of sharp falls in both revenues and yields (average fare levels), Giovanni Bisignani, Iata director general, told the global airline trade association's annual meeting yesterday.
Many global airlines, including Air France-KLM and British Airways, are facing a second successive year of losses and carriers are already expressing concern about the renewed spurt in oil prices.
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