More than 40 Airlines have shut shop worldwide because of Global Aviation Recession
Passenger traffic is expected to decline by 4 per cent and cargo by 14 per cent for 2009. Yields are expected to fall by 12 per cent for passenger and 15 per cent for cargo. The fall in passenger yield is led by the 20 per cent drop in demand for premium travel. Cargo utilisation remains at less than 50 per cent despite the removal of 227 freighters from the global fleet. There is little hope for an early recovery in yields in either the passenger or cargo markets.
In addition to these, Aviation Turbine Fuel prices are still ruling high adding to the costs. There is no justification for higher prices as oil prices have fallen. Worldwide, Airlines have lost in fuel bill in 2009 and $16.8b in 2008.
International Air Traffic,
Indian Aviation Industry,
Deccan Herald in New Delhi,
Mohini Porwal [ B Sc]
Trainee News Editor
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