The latest traffic figures from the International Air Transport Association (IATA) show mixed results during June 2009 for the world’s airlines, but even the most positive interpretation of them would suggest no more than that the deterioration of market conditions has slowed somewhat.
AIN Air Transport Perspective » July 31, 2009
In the weeks following the June 30 crash of one of its Airbus A310s off the coast of the Comoros Islands in the Indian Ocean, Yemen flag carrier Yemenia became the poster child for questionable airline safety standards. The accident, in which 154 people died, provoked renewed calls for a global blacklist of operators deemed to be unsafe.
Global airlines are still suffering reduced demand for flights, but the Virgin Group’s dream of launching passenger flights into space has received a boost in the form of significant new investment from Abu Dhabi’s Aabar Investments. The Middle East firm will invest about $280 million to take a 32-percent stake in Virgin Galactic, valuing the subsidiary at almost $900 million.
At face value, Europe’s EADS group appeared to come off slightly worse than its U.S. rival Boeing from financial results announced in late July. EADS reported a 23-percent drop in operating profits for the first half of this year, compared with a 22-percent decline at Boeing over the same period.
Boeing has given itself until the end of the third quarter to publicly outline its latest plan to get the 787 Dreamliner airborne and certified. Given that it can ill afford further false dawns with this troubled program, the U.S.
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