Airlines may report combined losses of about $5.2 billion this year, almost $3 billion higher than forecast in June, as economies slow and fuel costs erode earnings, the International Air Transport Assn. said Wednesday.
The net loss will fall short of the $6.1-billion worst-case-scenario the industry body envisaged in the last forecast because of a recent drop in oil prices, association Chief Executive Giovanni Bisignani said. Traffic growth will be lower than predicted as an economic slowdown spreads, he said.
