Airline finance chiefs expect drop in profit

July 22, 2008

Airlines expect further deterioration in profits and more job cuts over the next 12 months amid near-record fuel costs and slowing growth in demand, an industry survey of chief financial officers found. About 70 percent of respondents said profitability will decrease, up from 61 percent in April, the International Air Transport Association, which represents about 230 airlines, said. For the first time in the survey, the percentage of executives expecting a decline in employment was greater than the share foreseeing an increase.

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Airline finance chiefs expect drop in profit

Related topic galleries: Transportation, Air Transportation Industry, Air Transportation

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