International air travel, whacked by the economic downturn, is starting to stabilise but may not recover until 2011 as companies and passengers continue to scale back, executives at aviation giants Boeing Co. and Airbus SAS said on Wednesday. Passenger travel, somewhat better so far in the second half of 2009 than in the first, was still expected to slump between 6% and 8% for the year, said Randy Tinseth, a Boeing vice-president for marketing. Still, there were signs the drop in demand was slowing, with global airlines beginning to restore capacity and the Chinese and Latin American markets picking up, he said. “We’re already starting to see some improvements in traffic and traffic growth, but we’ve got a long ways to go,” Tinseth told reporters at an Asian aerospace and aviation show in Hong Kong.
Source:
The Economic Times
Date-10 September 2009
Edition- New Delhi
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