Airlines 'to lose $6bn this year' as fuel prices soar
Date: Tuesday, May 31 @ 06:14:03 PDT
Topic: Business News; Market Research
SOARING jet fuel prices have become the “fifth horseman of the apocalypse” and will cost the global airline industry more than $6 billion (£3.3 billion) in losses by the end of this year, the head of the leading airline industry body said yesterday.
The forecast is more than $500 million greater than previous predictions. The cost of fuel will make this year the fourth consecutive year in which the airline industry has suffered big losses, and comes as many carriers are only just emerging from the damage caused by terrorism and Sars.
http://www.timesonline.co.uk/newspaper/0,,171-1634622,00.html
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