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| IATA halves forecast 2010 loss to $2.8 billion from $5.6 billion |
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IATA slashed its projected 2010 loss for the global airline industry by half, stating in a new forecast issued yesterday that a stronger-than-expected recovery in demand, particularly in Asia and Latin America, will result in a full-year loss of $2.8 billion instead of the $5.6 billion predicted in December. |
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| Lufthansa targeting 'slight' improvement after rough 2009 |
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Lufthansa yesterday released details of a year that ended with its first net loss in six years, a €112 million ($152.5 million) deficit that marked a reversal from the €542 million profit posted in 2008, but with an operating profit that reflected "broadly poised and ideally equipped" business segments, according to Chairman and CEO Wolfgang Mayrhuber. |
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| Air France KLM maintains African commitment |
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Air France KLM intends to maintain its strong position in Africa and a strategy of continuous growth despite the economic downturn and increased competition, Senior VP-Africa & Middle East Etienne Rachou told ATWOnline. |
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| Special items, cuts return Cathay Pacific to profit |
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Cathay Pacific Group returned to profit in 2009, posting a HK$4.69 billion ($604.9 million) surplus that was reversed from a restated 2008 loss of HK$8.7 billion, as fuel hedges, one-time gains and capacity and cost cuts boosted the bottom line. |
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| US regional growth could hinge on major airline labor negotiations |
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The current round of pilot negotiations at US major network airlines "will be the most important since deregulation" and could determine the future growth path for the regional airline segment, according to William Swelbar, a research engineer at MIT's International Center for Air Transportation. |
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