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Article: Price pressures ground airlines' recovery hopes.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- November 5, 2009
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FRANKFURT, Nov. 5 (Reuters) – Germany's Lufthansa and the airline industry's representative body provided a gloomy outlook for the sector as carriers around the world struggled to make a profit amid a fierce battle for business.''Initial signs of a stabilization in volumes are far away from making up for the enormous and unrelenting pressure stemming from the massive fall in price levels,'' the German flagship carrier said on Thursday.Industry body IATA echoed Lufthansa's warning, saying it was still too early to talk about a recovery. IATA has said it sees the world's airlines losing $11 billion this year as consumers tightened their purse strings and companies cut ...