Worst is over for Aviation Industry : Indian Aviation

Worst has been over for Indian Aviation

Worst has been over for Indian Aviation

A good news came out from  IATA (International Air Transport Association) where the worst has been over for the aviation Industry, but but it will take a few more years for the sector to completely recover from the crisis. “The worst is over, but the industry has to go a long way for a complete recovery,” Giovanni Bisignani, director general and chief executive of the International Air Transport Association (IATA),

The stats according to them says that, it will take three to four years to reach the level it was at before the crisis hit the industry.”  The maximum losses has been calculated in the aviation sector and the result was  highest in Europe at $3.8 billion, followed by $3.6 billion in Asia and $2.6 billion in the US. The Indian aviation industry losses are estimated to be around $1.5 billion this year, The losses will be mostly from Air India.”
Bisignani recalled that it took three-four years for the US aviation sector to return to the growth path after the 9/11 terrorist attacks.
“Now, we are facing an economic slowdown worldwide. Still we are hopeful that the industry could bounce back in three-four years,” he added.

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~ by anand213 on October 24, 2009.

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