Japan Air Requests Bailout!
September 27, 2009 – 11:23 amOn 9/24/2009, Japan Air has requested a bailout from their government. Will the US Airlines be far behind in requesting a federal bailout? According to the International Air Transportation Association (IATA):
The airline industry as a whole has suffered in the global downturn, hit by a combination of falling passenger numbers and high oil prices.
The International Air Transport Association (Iata) has increased its forecast for losses across the whole industry to $11bn for 2009, from the $9bn it predicted earlier this month.
Airlines have lost $6bn in the first half of the year alone, Iata said, with Asian airlines among the hardest hit. In the Asia-Pacific region, Iata predicts airlines will report losses of $3.6bn for 2009.
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