Global airline losses topped $13 billion in 2002, trade group says PORT OF SPAIN, Trinidad (Reuters) =97 The global airline industry suffered a= =20 $13 billion loss in 2002, the second straight year of staggering losses as= =20 costs for tighter airport security and "war" insurance took their toll, an= =20 International Air Transport Association official said Monday. "It's the=20 second year of record losses in the industry," said Giovanni Bisignani,=20 director general and chief executive officer of the Geneva-based aviation=20 industry body. The global airline industry lost an estimated $18 billion in= =20 2001 following the Sept. 11, 2001, attacks in the United States, he said.=20 "When you add those two figures, it means the industry is really in grave,= =20 grave problems. The losses together are more than the total profit all the= =20 airlines made since 1945. This gives the dimension in which the airlines=20 are moving," Bisignani told a news conference while visiting Trinidad. The= =20 global airline industry in 2002 also suffered a 2.5% reduction in passenger= =20 travel but recorded a 6% growth in freight carrying, he said. Bisignani said the IATA forecasts that total passenger traffic will grow=20 6.4% in 2003 and on average 3.3% per year until 2006. "We really think that if nothing happens in the international scene and if= =20 there is the possibility of solving all the big political problems on the=20 table and there are no major events, we will start seeing some small=20 profits in 2004 if this political situation gets over in a smooth way," he= =20 said, referring to the threat of war in Iraq. But while passenger traffic=20 and freight are expected to grow, the losses facing the airline industry=20 continue to be staggering, he said. Bisignani, a former managing director=20 and CEO of Alitalia, said airlines now pay $3 billion annually for security= =20 at airports, which IATA is protesting against. "Governments have to take=20 responsibility for security in the airports, it's not an airline issue," he= =20 said. Insurance costs have also increased to $5 billion from $1 billion a=20 year since the Sept. 11, 2001, attacks, he said. Bisignani said that 2002=20 was the best year for safety in IATA's 58-year history. IATA represents 280= =20 airlines that together account for more than 95% of all international=20 scheduled air traffic. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@escape.ca Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: http://www.hilofoodstores.com TnT Webdirectory: http://search.co.tt *********************************************************