Projo Biz Blog

No wonder T.F. Green Airport is in the dumps. Globally, airlines are expected to lose $4.7 billion this year, with revenues falling faster than after the Sept. 11, 2001 terrorist attacks, The Huffington Post reported Tuesday.

The story cites a new study by the International Air Transport Association that forecasts a 12-percent drop in industry revenue. In 2001, the industry suffered a 7-percent revenue decline.

"The state of the airline industry today is grim," Giovanni Bisignani, chief executive officer of the International Air Transport Association, said in a statement. "Demand has deteriorated much more rapidly with the economic slowdown than could have been anticipated even a few months ago."

At T.F. Green Airport, passenger traffic in February dropped 9 percent, Providence Journal writer Paul Edward Parker reported Tuesday.

 Tags  airlines economy recession Rhode Island T.F. Green Airport travel Warwick

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