Site Loader

The”aviation”industry”in”North”America”and”Europe”was”under”severe”economic” pressure.”In”spite”of”the”disruption”to”travel”associated”with”the”terrorist”attacks”of” September”11,”2001,”passenger”traffic”and”passenger”revenue”continued”to”increase.” However,”costs”outpaced”this”revenue”growth,”and”industry”profit”margins”continued”to” suffer.”In”March,”2009,”the”International”Air”Transport”Association”(IATA)”issued”a”dire” forecast”for”the”industry”(Appendix”2),”predicting”that”in”2009: o Industry”net”losses”would”reach”US$4.7″billion; o Airline”revenues”would”decline”by”12%,”or”US$63″billion o Cargo”traffic”would”fall”by”13%,”passenger”traffic”by”7%,”and”airlines”would”cut” capacity”by”6%. The”major”sources”of”these”cost”pressures”were”global”recession,”competition”from”low! cost”carriers”such”as”Southwest”Airlines”and”Ryanair;”high”fuel”prices”and”overcapacityiii.…

x

Hi!
I'm Katherine!

Would you like to get a custom essay? How about receiving a customized one?

Check it out