Airlines face "major slowdown" due to Japan: IATA

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  1. AmericanGirl
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    http://www.canada.com/travel/Airlines+face+major+slowdown+Japan+IATA/4464215/story.html

    By Andrew Callus, Reuters

    GENEVA - The nuclear and earthquake crises in Japan will cause the airline industry a "major slowdown" it will not start to recover from until at least the second half of 2011, industry body IATA said on Friday.

    The International Air Transport Association said it was too early to assess the long-term impact but with the $62.5 billion Japan market representing 6.5 percent of scheduled worldwide traffic and 10 percent of industry revenues "the fortunes of the industry will likely not improve until the effect of a reconstrunction rebound is felt in the second half of the year".

    IATA said the most exposed international market to Japanese operations was China, where Japan accounts for 23 percent of its international revenues.
     
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