Sweet spot souring? IATA lowers 2008 industry profit forecast
The International Air Transport Association (IATA) has slashed
its combined industry net profit target for 2008 by 19%, to USD7.8 billion,
due to high oil prices and the turmoil in credit markets. Director General and
CEO, Giovanni Bisignani, stated, the impact of the credit crunch “puts
some question marks over the industry’s performance next year and the
continuing high price of fuel will become more difficult to mitigate with efficiency
gains”.
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