HONG KONG — The global airline industry on Monday nearly doubled its forecast for losses this year to $9 billion, amid what it said were the worst conditions it has ever faced.
There is no modern precedent for today’s economic meltdown. The ground has shifted. Our industry has been shaken,” said Giovanni Bisignani, the association’s director general, in a speech delivered at the association’s annual meeting in the Malaysian capital, Kuala Lumpur. “Our future depends on a drastic reshaping by partners, governments and industry.”
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re: "worst conditions...ever...drastic reshaping"
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see:Qantas-British Airways Merge: First 'Truly' Global Airline 12-2-08 "It is an exciting step towards a truly global airline,"
also Shaking The World - Global Airline Predicted 7-25-08 "Pointing out to the present trends in the industry, Geoff Dixon has told that the current fuel crisis would bring about a 'seismic' shift that shall see the airline market dominated by a few huge and highly influential global airlines and niche carriers that have served individual markets in addition to sound flagship carriers from other countries."Stating what he calls as 'a new world order', Mr Dixon said, "Over time, consolidation will transform aviation. It will produce a few, very large and extremely efficient global airlines..." (follow links, connect dots)
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'And that, knowing the time, that now it is high time to awake out of sleep...' Romans 13:11
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