Tuesday, March 3, 2009

Airlines as an indicator of the economy

Airline freight revenues continue to contract. IATA has said that its December forecast of a 5% fall in freight volumes and 9% in revenues now appears optimistic. 'Cargo demand has fallen off a cliff . The continued decline in cargo markets is a clear sign that we have not yet seen the bottom of this economic crisis'.

The Association of European Airlines has asked the EU to drop the regulation requiring airlines to use their slots at least 80% of the time so that airlines can suspend services during the downturn without losing their slots.

BA says that it is buring up its cash pile of £1.6 billion at the rate of £2.7 million a day.

Air France has delayed delivery of two Airbus A-380's in order to conserve cash.

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