Paris -- A leading airline association in Paris said airline losses in 2009 would reach $11 billion with customer demand for flights slack.
The International Air Transport Association, which represents 230 airlines, increased the loss forecast from June by $2 billion and said airlines would not quite pull out of their tailspin in 2010 although losses would improve next year to $3.8 billion.
As airlines continue to adjust to the global recession with reduced flight schedules, industry revenues are expected to drop 15 percent to $455 billion this year, The New York Times reported Tuesday.
