Walsh: airlines can do nothing to stimulate demand
09.06.09
Airlines are powerless to spur demand for travel in the global recession, Willie Walsh, chief executive officer of British Airways, said. He told reporters yesterday that there is ‘nothing we can do in the current environment to stimulate traffic, particularly in the premium market. It doesn’t respond to pricing activity.’
International air travel fell for an eighth month in a row in April as airlines cut flights amid a worsening economy and rising job concerns. The International Air Transport Association (IATA) predicted yesterday airline losses may be $9 billion this year, almost double a previous forecast. Mr Walsh said: ‘Until we get some stability in both the economic and aviation markets, it’s going to be a very difficult environment.'
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