Airline industry in worse state than after 9/11
3 June 2008Soaring oil prices and a collapse in consumer confidence has left airlines in a worse state than after September 11, the industry’s chief economist said today.
Brian Pearce, of the International Air Transport Association, said that aviation was facing its biggest crisis in 30 years.
Airlines had been hit by the “‘double whammy'” of a collapse in consumer confidence and a dramatic rise in the cost of aviation fuel.
source: Telegraph.co.uk
