Airlines to lose $11 bln in 2009: IATAWorld airlines are now likely to lose 11.0 billion dollars this year, industry association IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. said on Tuesday, as it raised an earlier loss forecast of 9.0 billion and predicted a 3.8 billion-dollar shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. in 2010. "The outlook for the industry has deteriorated. We are now expecting losses of 11 billion dollars" for 2009, said Giovanni Bisignani Giovanni Bisignani is the Director General of the International Air Transport Association, appointed in 2002. Bisignani is the former chairman of Italy's flagship airline Alitalia. , head of the International Air Transport Association. European carriers are expected to be worst hit this year, with losses of 3.8 billion dollars, twice as much as the 1.8 billion dollars initially predicted. Asian-Pacific airlines should post losses of 3.6 billion dollars, slightly up from the previous forecast of 3.3 billion dollars. North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. carriers should lose 2.6 billion dollars, more than twice the earlier estimate of 1.0 billion dollars, said IATA. 
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