Airlines face record losses

Airline industry body warns of airline losses. IATA

The world's airlines face revenue losses and extra costs of $10 billion (SFr16.6 billion) this week because of the terror attacks in the United States, according to the Geneva-based International Air Transport Association (IATA).

This content was published on September 13, 2001 minutes

William Gaillard, spokesman for the association, which has 266 member carriers, said on Thursday that airlines were facing "record losses" this year in the wake of Tuesday's attacks.

About 4,000 of the world's 12,000 commercial airliners were grounded after the US suspended all flights, following Tuesday's attacks. The US market is work about $1 billion per day, according to IATA.

"This is a ballpark figure, but we could be talking about immediate losses of $10 billion this week alone. There could be a ripple effect too," explained Gaillard.

"A week ago we were talking about losses of about $2.8 billion on international scheduled traffic this year. There is no doubt its going to be more," he added.

swissinfo with agencies

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?