Monday 23 October 2017

European airlines face losses of €879m this year -- IATA

John Mulligan

John Mulligan

EUROPEAN airlines will post combined losses of $1.1bn (€879m) this year as the eurozone crisis rumbles on, according to the International Air Transport Association.

It said that while North American and Latin American carriers were likely to experience a better than anticipated performance in 2012, the outlook for European, Asian and Middle East carriers was now worse than had been expected.

The $1.1bn in losses that European airlines are forecast to post this year is twice the amount IATA had previously estimated.

IATA director general Tony Tyler, adding: "For European carriers, the business environment is deteriorating rapidly, resulting in sizeable losses."

Irish Independent

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