BRADLEY S. KLAPPER
Associated Press Writer
GENEVA – Global airlines are undergoing a surprisingly strong recovery with Asian and Latin American carriers leading the way, the leading industry group said Thursday as it halved its loss forecast for 2010 to $2.8 billion.
The International Air Transport Association said carriers began bouncing back late last year, and have continued to see stronger demand after posting record losses during the global economic crisis. The group also lowered its 2009 loss estimate to $9.4 billion from $11 billion because of the year-end rally.
“We are starting to see some blue skies ahead of us,” said IATA chief executive Giovanni Bisignani.