EUROPEAN AVIATION EXPECTS LOSS IN 2012

Gregory Dolgos - Jan 16, 2012
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European aviation is likely to lose millions of dollars this year while business travel is expected to go up.

Only rarely a new year begins with so many questions as the year 2012, including the tourism industry. The forecasts for the whole world range from optimistic, considering mainly the current data from the US, to negative as for example the slowing economy of China.

Europe as such is also expected to face a very hard year, especially regarding aviation. According to a report published by IATA (International Air Transport Association), the European aviation will lose 600 million U.S. dollars in 2012, reported Touristaustria.at.

Norbert Draskovits, the president of Austrian Association of Travel Agents (ÖRV), claims that under the assumption that the current situation with the euro crisis continues, the prices of flight tickets are likely to rise by 1.2%. He nevertheless expects better performance of business travel segment and an increase of 4%.

Positive outlook of business travel was also one of the results of a survey organized in November at EIBTM (The Global Meetings & Events Exhibition) in Barcelona. According to the findings, 58% of buyers expect positive development in business travel in 2012.

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