The head of the Geneva-based International Air Transport Association, Giovanni Bisignani, projected a $2.2 billion loss for the global airline industry in 2006, down from $6 billion in 2005, as profitability among European and Asian carriers is expected to offset narrower losses for U.S. airlines.
Bisignani forecast that U.S. airlines will lose $5.4 billion in 2006, assuming world oil prices average $57 a barrel. In 2005, U.S. carriers lost some $10.8 billion (excluding United's $16.7 billion fourth-quarter restructuring costs) on average oil prices of more than $56 a barrel.
Seems like the IATA chief is very confident with his prediction. I wonder though, can this confidence be shared by all parties?