Aviation Daily: International Losses Could Top $7B, IATA Reports
By Aviation Daily Staff
10-Oct-2001 10:13 AM U.S. EDT
The global airline industry this year is expected to lose $7 billion on international scheduled services alone, according to new IATA estimates.
Before the Sept. 11 attacks, the group was estimating losses of $2.5 billion, but it now believes traffic will be down about 15% between now and yearend. Even with the deep losses and job cuts that could top 200,000, IATA Director General Pierre Jeanniot believes the industry will recover in 2002.
"I am very confident that our industry will weather the storm," Jeanniot said in Hong Kong. "It will emerge, bruised but reformed and very much strengthened."
He noted that flying remains the safest form of mass transport, but all the industry players "need to share the same vision" to keep flights safe. In addition to "more intense application of conventional airport security screening, successful defense against terrorism should consist of better government intelligence and wider application of biometrics."
Jeanniot has been a long-time supporter of using high-tech tools such as electronic fingerprint screening and eye scans to develop a worldwide database of passengers.
Separately, during a visit to China, Jeanniot signed an agreement with the Civil Aviation University of China and Northern Jiaotong University, under which the IATA Aviation MBA qualification will become available in China.