IATA: Airline industry will take at least 3 years to recover

Singapore – The global airline industry will take at least three years to recover after the worst recession in six decades hurt travel demand, Giovanni Bisignani, chief executive of the International

Singapore – The global airline industry will take at least three years to recover after the worst recession in six decades hurt travel demand, Giovanni Bisignani, chief executive of the International Air Transport Association (IATA), said.

The industry globally lost $50 billion in the past 10 years, with $11 billion in 2009 alone. Revenues declined by $80 billion last year, he said.

โ€œThese numbers are really shocking. Weโ€™ve had a terrible 10 years. It would take at least three years to recover the level of growth we have lost,โ€ he said in an interview on Sunday.

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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