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Airline business picking up

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Airline business picking up
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IATA, the airline industry association, has said that things are starting to turn around after the economic crisis.

It has halved its forecast for airline losses this year as passenger numbers pick up along with the amount of freight being flow.

IATA said losses this year will likely come to 2.1 billion euros. In December it was talking about twice that amount.

It is now forecasting passenger demand would rise by 5.6 percent and cargo demand would jump 12 percent.

Last year passenger numbers fell 2.9 percent and cargo demand slumped 11 percent.

IATA’s Director-General Giovanni Bisignani said the recovery is much better than expected.

The recovery is good news for both the industry and the global economy as a whole, indicating that exports are reviving, he said.