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Company Watch - IATA.

New York (AirGuideBusiness - Company Watch) Jun 14, 2009

The International Air Transport Association (IATA) has appointed Cathay Pacific Airways ceo Tony Tyler as chairman of the Association's board of governors. Mr Tyler will serve as chairman for one year. His predecessor, Royal Jordanian Airlines' ceo Samer Majali, served from June last year. IATA described Mr Tyler as a "32-year veteran of the air transport industry", who has served as Cathay's ceo since 2007. Jun 9, 2009

The global airline industry could suffer a USD 9bn loss this year, the International Air Travel Association said today. The revised figure is almost double IATA's previous March forecast of USD 4.7bn as revenues deteriorate faster than first thought. Giovanni Bisignani, IATA's director general and ceo, said: "There is no modern precedent for today's economic meltdown. The ground has shifted. Our industry has been shaken. This is the most difficult situation that the industry has faced." Carriers in the Asia-Pacific region are expected to suffer the worst losses, at USD 3.3bn. IATA said Japan, the region's largest market, was in the midst of a "deep" recession. The growth markets of China and India are being hit by a slow-down in export demand. European carriers will report the second highest losses at USD 1.8bn, IATA said. Falling demand for premium travel has hit many of the region's larger network, full-service carriers. British Airways and Iberia have all reported or predicted losses on the back of falling demand for first and business class seats. Jun 8, 2009

The International Air Transport Association (IATA) has launched its global carbon offset programme with Portuguese airline TAP. The IATA-administered industry-wide scheme is a ready-made tool enabling airlines to offer their passengers the ability to compensate for their carbon emissions with contributions towards carbon reduction projects in developing countries. TAP's ceo Fernando Pinto said: "We at TAP are deeply concerned about the environment and feel it is our responsibility to summon up all possible energies and resources to preserve it and protect our planet. "Therefore, we are enthusiastic to be the launch airline for the IATA carbon offset program." The offset project chosen by TAP is the Aquarius Hydroelectric Project, a Brazilian renewable energy project. Jun 8, 2009

Airlines around the world could lose a combined USD 9 billion this year, an outlook nearly twice as grim as the one issued just three months ago. Revenues could fall by a record 15 percent, or USD 80 billion, according to an updated forecast from the International Air Transport Association. Jun 8, 2009

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Publication:AirGuide Business
Date:Jun 15, 2009
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