ME airlines expected to lose $400 million this year

“Revenues are half-way to recovery— $42bn below the 2008 peak and $43bn above the 2009 trough. Important fundamentals are moving in the right direction. Demand is improving. The industry has been wise in managing capacity. Prices are beginning to align with the costs—premium travel aside. We can be optimistic but with due caution. Important risks remain. Oil is a wild-card, over-capacity is still a danger, and costs must be kept under control—throughout the value chain and with labour,” said Giovanni Bisignani, IATA’s Director General and CEO.