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The International Air Transport Association, a trade group based in Geneva, said the world's airlines incurred expenses and lost sales last week that could reach $10 billion.
Similar(59)
All of this directly impacts the cost airlines incur to get you on the plane.
Within the next two weeks, he is expected to announce broad changes at British Airways aimed at eliminating the $300 million $425 millionon) in losses the airline incurred last year on short-haul routes, people close to the company said.
[World Business, Section W.] Revamping Seen at British Airways Rod Eddington, who became chief executive of British Airways on May 1, is expected to announce broad changes at British Airways aimed at eliminating the $425 million in losses the airline incurred last year on short-haul routes, people close to the company said.
The association has also been lobbying hard for government reimbursement of expenses for accommodation and meals that airlines had incurred in compliance with the European Union's so-called passenger bill of rights.
Despite posting an operating profit for 2002, Brazil's troubled flagship airline Varig incurred a record loss for the year of 2.8 billion reais ($947 million), underlining the need for a merger with its rival, TAM.
"In addition to lost revenues, airlines will incur added costs for rerouting of aircraft, care for stranded passengers and stranded aircraft at various ports," said spokesman Anthony Concil.
Says an airline incurs costs of between 8p and 20p on debit card transactions.
"Although there have been encouraging signs, the downturn remains severe and many airlines continue to incur losses that dampen demand across all airplane types.
Biman decided to axe the route along with a number of other regional and domestic routes to curb the huge losses being incurred by the airline each month.
The E.U. rules also stipulate that airlines could only claim for losses incurred during periods when the airspace was shut down.
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