Airline Industry Says Loss Much Higher Than Anticipated

By: NBC Email
By: NBC Email

Things are looking worse for the airline industry.

Worldwide, they're expected to lose $9 billion in 2009.

The new estimate comes from the International Air Transport Association, representing 230 airlines around the globe.

In March, the IATA predicted a loss of $4.7 billion.

They say the ground has shifted with the worldwide financial crisis.

The head of the group says airlines need to make drastic changes to the way they do business.

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