Airlines face "major slowdown" due to Japan: IATA | world | Hindustan Times
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Airlines face "major slowdown" due to Japan: IATA

world Updated: Mar 18, 2011 17:13 IST

Reuters
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The nuclear and earthquake crises in Japan will cause the airline industry a "major slowdown" it will not start to recover from until at least the second half of 2011, industry body IATA said on Friday.

The International Air Transport Association said it was too early to assess the long-term impact but with the $62.5 billion Japan market representing 6.5 per cent of scheduled worldwide traffic and 10 per cent of industry revenues "the fortunes of the industry will likely not improve until the effect of a reconstrunction rebound is felt in the second half of the year".