A grim economic outlook for airlines means heavily discounted fares for corporate travelers
If financially strapped airlines worldwide were hoping for a turnaround in 2009, they may be in for some disappointment. The International Air Transport Association (IATA) released a revised outlook for the airline industry for 2009 last month, and it isn't pretty.
In December, IATA predicted 2009 losses for the airline industry at $2.5 billion. That figure has grown to an estimated $4.7 billion. Industry revenues are also expected to decline by about 12 percent, or $62 billion.
