10-Dec-2008 5:25 PM
IATA: European airlines to lose USD1.0 billion in 2009 - but is that a mirage?
Analysis
In Sep-08, IATA forecast a global industry loss of USD5.2 billion for the current year. This was based on an average crude oil price of USD113 a barrel (USD140 for jet fuel). But the outlook for 2009 is now a much rosier - albeit still negative - loss of USD2.5 billion industry wide. The main reason for the improvement? Drastically lower oil prices. But this could merely be a mirage.
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