Global airlines to lose $6bn

The global airline industry will make losses of $6bn this year, up from $4.8bn in 2004, because of high fuel costs, according to the International Air Transport Association. Meanwhile, Emirates Airline President Tim Clark again defended the Dubai-based carrier at the IATA annual general meeting saying the airline did not receive any government subsidies. [AMEInfo.com]

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Posted May 30, 2005

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