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News of September 2008

Virgin leads airline plan to buy Gatwick

3 September 2008

Virgin Atlantic has held talks with financial partners over a possible bid to buy Gatwick Airport.

A spokesman for the airline said that the talks were at a very early stage but that it intended to approach other airlines about forming a consortium to table a bid, once it had secured suitable backing.

Sir Richard Branson’s airline already owns a seventh stake in a consortium that owns NATS, the UK’s system of air traffic control and the entrepreneur believes consortium-ownership could be suitable for an airport, now that the Competition Commission has signalled its intention to force BAA to sell up to three of its seven airports.

source: Times Online

IATA cuts air traffic growth forecast for ’08, ’09

3 September 2008

The International Air Transport Association on Wednesday significantly cut its air traffic forecast for domestic and international markets, reflecting weakening economic conditions and waning demand.

Global passenger traffic is now expected to grow on average by 2.8 percent this year, compared with a 3.9 percent growth prediction in June.

For 2009, traffic volume growth of 2.9 percent is expected, compared with a previous prediction of 4.5 percent growth.

source: BusinessWeek