Worldwide airline losses to hit USD9 billion in 2009

IATA has revised its industry net loss forecast for 2009 down from a USD4.7 billion loss predicted in March to a USD9.0 billion loss, as the revenue and demand environment continues to weaken. A widening in expected losses by Asia Pacific and North American carriers were the main drivers of the almost doubling in IATA's loss estimate for the industry this year. IATA also revised its loss estimate for 2008 to USD10.4 billion from the previous estimate of USD8.5 billion.