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Airline industry seen recovering in 2 years

Airline industry seen recovering in 2 years
AP
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First Published: Thu, Jun 03 2010. 04 39 PM IST
Updated: Thu, Jun 03 2010. 04 39 PM IST
Berlin: The head of the International Air Transport Association says the aviation industry could recover from the global economic downturn within two years even after the volcanic ash crisis took an estimated $1.8 billion bite out of revenue.
Giovanni Bisignani says the industry saw revenues drop some 15% in 2009 amid the economic crisis. He initially believed three years or more would be needed to recover.
He said that with the economy growing again in many regions “this could happen in two years.”
Still, Bisignani said: “we have two speeds” because economic growth remains sluggish in Europe even as it accelerates in the US and Asia.
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First Published: Thu, Jun 03 2010. 04 39 PM IST