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Wednesday, 16 September 2009
The International Air Transport Association (IATA) has revised its global financial forecast, now predicting airline losses totalling US$11 billion in 2009. This is US$2 billion worse than the previously-projected US$9 billion loss due to rising fuel prices and exceptionally weak yields. Industry revenues for the year are expected to fall by US$80 billion (15 per cent) to US$455 billion compared with 2008 levels.
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