2002 The Worst Year Ever for the Airlines

The International Air Transport Association (IATA) projects its members will lose $9 billion in 2002--and $6 billion of that will be lost by U.S. carriers alone. British Airways, a major business airline for travelers between the U.S. and Great Britain, also announced that military action in Iraq could have effects even more damaging than September 11. IATA also reported that, even without a war, it will take until 2004 before the industry recovers from the losses from Sept. 11. For more