2019 doesn't look so good for the world's airlines.
Global industry body IATA says its members' profits will be a fifth lower than forecast earlier.
About 28 billion dollars instead of the 35.5 billion predicted back in December.
The IATA chief revealed the downgrade at the body's annual conference, which wrapped up Monday (June 3) in Seoul.
(SOUNDBITE) (English) DIRECTOR GENERAL OF INTERNATIONAL AIR TRANSPORT ASSOCIATION (IATA), ALEXANDRE DE JUNIAC, SAYING: "First of all, we have seen the consequences of trade wars and protectionist measures, particularly on our cargo business from a microeconomic standpoint.
You see that the international trade is now at zero growth rate, so immediate impact on our cargo business." Higher oil prices are hurting too.
Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenues by half to mark the worst year in the sector's history, the International Air Transport Association forecast on Tuesday. Conway G. Gittens reports.
Boeing Co and suppliers set the final number of parts it would need for the 747 jumbo jet program at least a year ago, signaling the end for a plane that democratized global air travel in the 1970s. Francis Maguire reports.
Wall Street plummeted Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve. Fred Katayama reports on the market action.
Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers. Conway G. Gittens breaks down the numbers.
When Korea's mayor of its capital city, Seoul, took his life last week, the country was left divided. According to CNN, Park Won-soon certainly had an impressive resume. The 64-year-old former human rights lawyer won the mayoral election by a landslide. However, Park had recently been accused of sexual harassment. Some mourned his passing, whereas others were angered that he would never face charges. Park's death comes as South Korea confronts traditional domestic perceptions of sexual assault.
The mayor of Seoul, South Korea has been reported missing. According to CNN, local police have launched a massive search for 64- year-old Park Won-soon. Park was reported missing by his daughter on Thursday, at around 5 p.m. local time. Park was elected mayor of Seoul in 2011 after his predecessor stepped down. Park was re-elected in 2014 and again in 2018.
A South Korean drone display has reminded citizens to wear a face mask and keep socially distanced during the coronavirus pandemic.The display, which took place above the capital Seoul, saw more than 300 drones take flight for a 10-minute show.
Credit: PA - Press Association STUDIO Duration: 01:09Published
The editor-in-chief of Malaysiakini, a leading independent Malaysian news portal, arrived in court on Monday to face contempt proceedings over readers' comments, in a case that has been widely seen as a blow to press freedoms. Libby Hogan reports.
A recent study links eating at least two daily servings of dairy to lower cluster of factors that heighten cardiovascular disease risk (metabolic syndrome).The observed associations were strongest for full-fat dairy products, the findings indicated.The study was published online in the journal BMJ Open Diabetes Research and Care.To see whether these associations might also be found in a broader range of countries, the researchers drew on people taking part in the Prospective Urban Rural Epidemiology (PURE) study.Participants were all aged between 35 and 70 and came from 21 countries: Argentina; Bangladesh; Brazil; Canada; Chile; China; Colombia; India; Iran; Malaysia; Palestine; Pakistan; Philippines, Poland; South Africa; Saudi Arabia; Sweden; Tanzania; Turkey; United Arab Emirates; and Zimbabwe.Usual dietary intake over the previous 12 months was assessed by means of Food Frequency Questionnaires. Dairy products included milk, yoghurt, yoghurt drinks, cheese and dishes prepared with dairy products, and were classified as full or low fat (1-2 per cent).Butter and cream were assessed separately as these are not commonly eaten in some of the countries studied.Information on personal medical history, use of prescription medicines, educational attainment, smoking and measurements of weight, height, waist circumference, blood pressure and fasting blood glucose were also collected.