OK this is straight forward and needs no comment. It speaks for itself. I simply reprint the notes from OAG's email blast today.
Its ugly and will be out there for at least the majority of 2009.
OAG's comments follow:
"We report on a 7% drop in global airline capacity of 59.7million seats
The world's airlines will offer 59.7 million fewer seats in the 4th quarter of 2008 than they did a year ago, in our 10 year view of the global aviation industry.
The latest figures from our consolidated database reveal a 7% drop both in the number of flights and in seat capacity for October, November and December 2008 compared with the same time last year. The U.S. domestic market will account for just under 20 million of that figure, or 33% of the global decline in capacity, in what could potentially be the most widespread crisis to hit the aviation industry in recent memory."
Cheers
Timothy
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