According to the International Air Transport Association (IATA), the forecast for 2009 is looking dark than it was last year. Last year saw the airline industry grappling with record-breaking high oil prices and reduced require for air travel. This ultimately led to scaled-down operations for some airlines. Those that could not contain sky-rocketing prices of Jet A1 fuel then collapsed and shut down.
Industry analysts note that the current state of dealings in air transport gets even gloomier as demand for air travel continues to plunge. The Geneva-based IATA has indicated that traveler traffic is likely to drop by 5.7% while cargo traffic will go down by 13%.
Industry analysts note that the current state of dealings in air transport gets even gloomier as demand for air travel continues to plunge. The Geneva-based IATA has indicated that traveler traffic is likely to drop by 5.7% while cargo traffic will go down by 13%.
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