Airline Industry In Trouble

4 06 2008

The global airline industry is taking a beating these days — it could lose as much as $6.1 billion this year — and with airlines folding or going bankrupt at a rate of about one a week, it’s begging everyone short of the skycaps to help it survive.

The situation is so dire the International Air Traffic Association issued a resolution on Monday at its annual meeting calling on the world’s governments, airports and airline employees “to take immediate action to help the industry survive the growing financial crisis.” Reading it, you can almost feel the panic enveloping an industry that turned a $5.6 billion profit last year.

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