The second quarter earnings reports from 54 airlines confirms aggregate profits declined year-on-year in every region with the exception of Europe—for the first time in eight quarters. As pointed out by an IATA spokesman, “A tough environment getting tougher; certainly not the time for a new round of taxes and fees, as is being proposed by the Obama Administration.”
This fits precisely with IATA’s DG Tyler’s comments about the new normal in the industry being crisis mode.
Airlines Financial Monitor – Sept 11
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Geez Louise, these guys are a broken record, like Chicken Little.