Monday, June 1, 2009

In a televised speech from the White House at 16:00 UTC today, President of the United States Barack Obama presented a reorganization plan following the 12:00 UTC announcement by General Motors that it had filed for bankruptcy and Chapter 11 protection from its creditors, the largest bankruptcy of a U.S. manufacturing company.

Describing the problem with the company as one that had been “decades in the making,” Obama explained the rationale behind his proposed reorganization plan for General Motors. He stated that his intent was not to “perpetuat[e] the bad business decisions of the past,” and that loaning General Motors money, when debt was its problem, would have been doing exactly that. His plan, he stated, was for the United States government, in conjunction with the governments of Canada and Ontario (which he thanked for their roles alongside the government of Germany which he thanked for its role in selling a corporate stake in GM Europe), to become shareholders in General Motors. The United States government would hold a 60% stake. The government will give GM a capital infusion of US$30 billion in addition to the funds it has already received.

Of the government ownership he stated that he refused “to let General Motors and Chrysler become wards of the state”, and described the bankruptcy of Chrysler, and the bankruptcy of General Motors that he envisioned as being “quick, surgical, bankruptcies”. He pointed to the bankruptcy of Chrysler as an example of what he envision for General Motors, but stated that General Motors was a “more complex company” than Chrysler.

Responding to challenges voiced by political opponents, before the speech, that the federal government would actively participate in the affairs of the restructured company, he stated that he had “no interest” in running GM, and that the federal government would “refrain from exercising its rights” as a corporate shareholder for the most part. In particular, he stated that the federal government would not exercise its rights as a shareholder to dictate “what new type of car to make.” He stated that he expected the restructured GM to make “high quality, safe, and fuel-efficient cars of tomorrow,” and several times described what he anticipated as “better” and “fuel-efficient” cars, after a streamlining of GM’s brands.

He said to the general public that “I will not pretend that the hard times are over.” He described the financial hardship that some — shareholders, communities based around GM plants, GM dealers, and others — would undergo as a “sacrifice for the next generation” on their parts, so that their children could live in “an America that still makes things,” concluding that one day the United States might return to a time when the maxim (a widely-repeated mis-quotation of what Charles Erwin Wilson once testified before the U.S. Senate when nominated for the position of Secretary of Defense) would once more be true that “what is good for General Motors is good for the United States of America.”



Tuesday, May 3, 2005

Swiss banking giant UBS today reported better than expected first-quarter results – but warned investors that full year results could be hit by weaker investment banking revenues.

First-quarter net profit stood at 2.625bn Swiss francs (US$2.19bn; €1.7bn) up 15% from last year’s 2.28bn Swiss francs. Assets under management grew to 2.36 trillion Swiss francs (US$1.97 trillion; €1.53 trillion); an increase of 21.2bn Swiss francs on last year.

Despite the solid performance, CFO Clive Standish told the media “Clearly we have seen a slowing of the markets over the quarter, particularly in March… There is a perceptible slowdown in markets as we speak.”Reacting to the pessimism, UBS shares dropped 1.5%.



Get More Information Here:

Best Golf Equipment: Enabling You to Play Golf Excellently

by

William Rogers

Countless sports enthusiasts find golf a difficult sport because of its technicality. Playing the sport goes together with witnessing the greeneries that surround you. Many people are playing golf these days. Having the ideal golf equipment is also essential aside from knowing the mechanics and moves. With this, you can be sure to play golf at the green.

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While golf clubs are available in large number, you should keep in mind to pick the perfect one that best fits your abilities. Furthermore, there is a continues development in the golf club technology through the years. Today’s golf clubs have features that could make the entire performance of the golfer improved. Before you choose a golf club set, you should recognize your golf skill level first. Remember that novice players are not recommended to make use of golf clubs for professional gamers. Clubs that promote more control and versatility are the best for expert gamers. Learning the complicated techniques in golf is one thing challenging to new players. Golfing will even be difficult for a novice if he or she opted to utilize a golf club for skilled players. On the other hand, an expert golf player must prevent making use of golf clubs for new gamers because it will limit their movement.Golf cart is another golf equipment that players should have. Basically, this small vehicle can have up to two individuals along with their equipment towards the golf field. Today, golf carts are electrically charged ones even though most of the time, they are run by gas. If you are playing in an abrasive terrain, then you should choose gas powered carts because they have more power and torque.Running out of fuel in the middle of the field is also not an issue with this type of cart as they are refillable with a portable gas spray. However, gas operated carts can interrupt your concentration because of the noise of its engine produces. Furthermore, the golf course will not be designed for playing since it will be polluted if you are using old golf carts with gas that might leak. On the other hand, the electrically charged golf carts are eco-friendly and they do not make any noise when working. These carts have rechargeable lead-acid batteries that allow it to operate continuously for 8-10 hours when these batteries are completely charged. But, the use of these carts are restricted to flat areas alone. Aside from that, they will stay useless when the batteries died down in the middle of the field until you get them recharged again. As a player, walking around the field during the game is required even if you have a cart. With that, it is important to utilize the right golf shoes. They have functions that promote aesthetics as well as a good position of the wearer. It is actually easy to find golf shoes that match your outfit as they are now available in different designs and colors.The market if filled with a number of golf apparel and equipment for you to choose from. Reading reviews will let you see the perfect one. Check out the features they have so you would know what to pick. You can find golf equipment and apparels in online stores and numerous sports shops.

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Best Golf Equipment: Enabling You to Play Golf Excellently}



Sunday, December 19, 2004

CRAIG, Alaska –Rachelle Waterman, (aka Rachelle Ann Monica Waterman and “smchyrocky”), a 16-year-old girl from Craig, Alaska, USA, has been charged with the first degree murder of her mother.

The case has rapidly received a wide following on the Internet, partly because Waterman kept a public record of her thoughts and activities on LiveJournal, a popular blogging service. The last entry, which has since been removed from public view, was posted on November 18, 2004 and read:

Just to let everyone know, my mother was murdered.

I won’t have computer acess [sic] until the weekend or so because the police took my computer to go through the hard drive. I thank everyone for their thoughts and e-mails, I hope to talk to you when I get my computer back.

A diverse group of users, both friends and strangers, have posted over 5,000 comments on the journal, positive and negative, transforming the case into an Internet phenomenon. Every entry since March 2004 has apparently now been deleted or hidden, but a ZIP archive of the entire weblog, from before the entries were deleted, is available on Deadly Blogging.

Waterman was a tenth-grade honor (A-average) student in her second year at Craig High School. She was also a member of the Academic Decathlon team (ACDC) and sang in the choir, a profile that has left many people questioning her involvement in the killing and asking what motive there might be. At the time police say the killing occurred, Rachelle Waterman was apparently playing in a volleyball tournament in Anchorage, Alaska.

Apart from the online diary Rachelle kept, the case is also unusual because matricide committed by female minors is extremely rare.

Contents

  • 1 Family background
  • 2 The case
    • 2.1 Police investigation
    • 2.2 Arraignment
    • 2.3 The trial
  • 3 Alleged motive
  • 4 Incarceration
  • 5 Aftermath
    • 5.1 Juvenile crime
  • 6 See also
  • 7 References
    • 7.1 Rachelle Waterman on LiveJournal
    • 7.2 Police report on the case
    • 7.3 Press reports about the case
    • 7.4 Press reports which mention the case within a larger context
    • 7.5 Scholastic Accomplishments
  • 8 External links

The Waterman family is a locally prominent, middle-upper class family. Born on August 26, 1988, Rachelle showed an interest in acting, computers, movies and music, and was an honor roll student, involved in many extra-curricular activities, including choir, volleyball, and the decathlon team – advancing to upper levels and winning prizes in almost every endeavor. Her mother, Lauri, was a teachers’ aide and served on the board of the Little League and the town library. Rachelle Waterman’s 60-year-old father, Carl “Doc” Waterman, is a real estate agent and serves as president of the Craig School Board. Rachelle’s older brother, Geoffrey, lives out of town and is a student at Tacoma College.

Waterman and her alleged accomplices, Jason Arrant and Brian Radel, both 24 years old, are accused of murdering and conspiring to murder Waterman’s 48-year-old mother, Lauri Waterman.

Reportedly, Arrant dropped Radel off near the Waterman home shortly after 12:00 a.m. Sunday, November 13, 2004 (local time) where Radel proceeded to kidnap Lauri Waterman, force her into a minivan owned by the Waterman family, and kill her with a blunt object.

Arrant and Radel then allegedly met at Forest Service Road 3012 at about 2:30 a.m., and Arrant followed Radel to its dead end, where Radel had driven the Waterman’s van.

Arrant then allegedly watched as Radel doused the body and van with gasoline and then used a roll of paper towels to set it on fire, in an attempt to destroy the evidence.

Alaska State Police Lt. Rodney Dial has stated that a hunter discovered Lauri Waterman’s body and her burnt-out van, while driving on Forest Service Road 3012, a remote logging road, early in the afternoon of Sunday November 142004.

On Saturday, November 202004, Alaska State Police Trooper Robert Claus stated:

During … interviews all three made admissions as to their involvement in the murder. Physical evidence recovered at the various crime scenes corroborated many of the defendants’ statements … Radel, Arrant and Waterman have been charged with murder in the first degree. Due to the severity of the charges, Waterman has been waived into adult court. Additional charges of solicitation, conspiracy, tampering with physical evidence and other charges are pending. Arrant and Waterman will be arraigned in the District Court in Craig this morning.

On Saturday, November 20, 2004, Rachelle appeared in Craig District Court, dressed in an orange CCJF jumpsuit, for arraignment on the charges. Waterman and her alleged co-conspirators, Jason Arrant, and Brian Radel, faced a 10-count indictment, listing 26 felonies.

The Fairbanks Daily News-Miner reported that, “the complaint against Rachelle Waterman relied on statements by all three co-defendants. The complaint says the girl told one of the suspects when she and her father would be out of town.”

A report in The Ketchikan Daily News stated that, “The first seven counts of the indictment allege that all three defendants committed the crimes of conspiracy to commit first-degree murder; first-degree murder; second-degree murder; kidnapping; first-degree burglary; first-degree vehicle theft and tampering with physical evidence.” Other charges were made against Arrant and Radel. The same report went on to state, “Trooper Robert Claus, Klawock resident Jan Bush and Deputy State Medical Examiner Susan Klingler testified before the grand jury.”

Magistrate Kay Clark presided over the arraignment and set bail at $150,000. Clark also appointed a public defender to represent Rachelle, who was sent to the Juneau Department of Corrections facility.

Judge Patricia Collins, of the Juneau Superior Court, has been assigned to run the trial for the case. Judge Collins originally set a date of February 3, 2005 for the trial, but, at an arraignment that week, the trial was rescheduled for August 22. According to court officials, another postponement is likely.

Rachelle Waterman’s court-appointed attorney for the trial is Assistant Public Advocate Steven Wells. Assistant District Attorney Daniel Schally is assigned to prosecute the case.

No motive for the crime has been suggested. Readers are closely scrutinizing Rachelle’s online journal for clues.

As early as February 24th of 2004, she posted the following:

“Don’t you hate it when the little pieces of shit pile up to the point you’re at the breaking point, and you want to scream and cry at the same time. I don’t know weather to kill somebody, myself, or just curl up into a fetal[sic] position under my covers and lay there for a couple of days. Either way . . . I’m not good . . . “

Numerous readers have pointed to Rachelle’s negative comments concerning her mother’s wishes to send her to a “fat farm” to lose weight.

“My mom finally gave me back the right to eat but wants to send me to fat camp this summer. I think it’s rather hallarious[sic]. I mean, I agree I’m chunky but if she sends me off I”ll be the skinny girl and get sat apon[sic]. That part wouldn’t be funny, but overall it’s quite amusing. Silly mother,” (verbatim spelling).

In another incident, her mother grounded her (restricted her to home) for receiving an 89% score on a test. Rachelle posted these comments to her journal in response to this situation (verbatim spelling):

“well I’m grounded, last ngiht[sic] my mom went psycho bitch on me and cast me out. So I went to crash at someone’s house then she freaked [out], wanted me home incase[sic] I told someone. Wee for loving parental units”

“I even got to fly…down the stairs….”

Other readers have pointed to the title of Rachelle’s journal, “My Crappy Life (The Inside Look of an Insane Person)”, and her negative description of her hometown as “Hell, Alaska, United States”:

“I live in the suckiest[sic] place on earth, a shit hole in alaska[sic].”

Rachelle posted the following poem to her journal on August 24, 2004, with an indication that she was depressed:

they hold the key to my chamber
locked within it’s depths.
never to see the sunlight,
and contemplating death.
starving more than one way
soul and body combine,
the pain curses through
sending chills up the spine.
will I live to see the stars?
the sunrise once more?
or will I wither and rot
my heart gone forevermore

She also had a strong desire not to be at home:

“I just want a job, keep me occupied and not at home”

and even posted an “Ode to Suicide” under the following post:

“Ever feel completely alone? All the people who you care about and you thought cared about you just leave and you’re….just alone…nobody to connect with, nobody to comfort you when you find out you might die, nobody…nothing….”

Ode to Suicide

Pain consumes my body,
eating away like lye.
Tearing at my flesh,
no more tears left to cry.

Nobody loves me,
nobody cares.
Why continue on?
I want out of these snares.

Relief and release,
is what you bring to me.
No more matters to cry for,
I can finally be free.

“wow I suck amazingly at poetry”

Finally, the weekend before Rachelle left on a trip, during which time her mother was allegedly killed, she noted in her second-to-last entry, “I had a migraine from about 9am-6pm”.

Rachelle Waterman is currently incarcerated at the Lemon Creek correctional facility, in Alaska. She signed an agreement to be placed into the general population. Corrections Deputy Commissioner Portia Parker indicated that Waterman “is an adult in the eyes of the law.”

Alaska law places persons charged with first-degree murder at the age of 16 or older in the adult court system, and most of the records concerning this case are open to the public for inspection.

One of the last entries in Rachelle’s journal wonders whether anyone is reading her comments (verbatim spelling):

“Well not a lot has happened lately I jsut thought I should let people know I”m still alive, not like too many people care cus I’m not even sure if anyone reads these from me anymore.”

Although Waterman has not yet been convicted, sociologists and forensic psychologists are beginning to study her journal and the circumstances of her writing it. (The police have seized her computer and are examining the contents of its hard drive for evidence.)

LiveJournal has subsequently restricted the viewing of her journal.

When interviewed by Alaskan television station KTUU about the nature of online journals, (in late November, 2004) forensic psychologist Susan LaGrande commented that “[i]t’s such an anonymous vehicle that you can be whoever or say whatever you want. You don’t have all the responsibilities that are inherent in a face-to-face real, legitimate relationship.

This same report pointed out that Rachelle Waterman had mentioned suicide in her online journal.

Criminologist Susan Magestro was interviewed by KTUU on the subject of juvenile crime, in late November, 2004, after Waterman became the second teenager within two months to be accused of murdering her own parent. She stated that “I think that we’re starting to see more violence with kids who are younger, and the behaviors that they’re exhibiting are more aggressive and more violent.” Magestro also opined that “we’ve got a lot more fetal alcohol and drug children who are growing up, and they don’t understand the consequences of some of their actions.” (There is no indication that Waterman was a so-called “fetal alcohol” or “drug” child.)

KTUU reported that Magestro “…blames violent movies, TV shows and videogames for desensitizing young people, making them unable to understand the consequences — or even the reality — of their actions.”

Although Waterman has been waived into the adult justice system due to the nature of the crime, the Governor of Alaska, Frank Murkowski, has proposed increasing the number of personnel assigned to the juvenile justice system.



Tuesday, March 3, 2009

When she was barely 20 years old, Dutch singer Edsilia Rombley got her first large taste of international acclaim. Already a winner of the smaller imitation contest Soundmix Show, she decided to shoot higher. With a great deal of determination, she performed in front of hundreds of millions of television viewers at the 1998 Eurovision Song Contest in Birmingham, United Kingdom. Her song, the R&B flavored “Hemel en aarde” (Heaven and earth), placed fourth and gave her country their highest placing at Eurovision since their last win in 1975. No Dutch contestant after her has been able to place similarly.

After the accolades died down, Rombley set her sights on promoting her vision and passion through her music. Partnering with producer Tjeerd Oosterhuis became a double blessing; eventually they became husband and wife. Even a return to Eurovision at the 2007 Contest, with less than favorable results, didn’t keep her discouraged for long. Today she has finished recording a live CD of her favorite English songs, and a live DVD of selections in Dutch, and is currently touring in singing engagements this spring in theaters across the Netherlands.

Edsilia Rombley granted Wikinews’ Mike Halterman an interview; she reflected on her career, her inspirations, what a day is like in her life, and what she would love to do in the future. This is the third in a series of interviews with past Eurovision contestants, which will be published sporadically in the lead-up to mid-May’s next contest in Moscow.



Tuesday, March 22, 2005

Los Angeles, California — Four of six national television broadcast networks recently wooed potential advertisers for the 2005-2006 season with programming offerings in the new development phase. These included NBC, Fox, ABC and The WB. Two other networks, CBS and UPN, plan to preview their offerings March 24.

After four years of focusing on high-profile reality television, network executives are turning to the past for inspiration on scripted series. Some networks said they are “more consciously aggressive about developing shows” that recall such classics as Taxi and Barney Miller, Craig Erwich, a programming executive for Fox, told USA Today. In the same report, Kevin Reilly, NBC entertainment chief said, “I don’t think the answer has to be that it’s groundbreaking or something you’ve never seen before.”

But at least one ad buyer had reservations about the rear-view mirror technique. “Every network seems to be looking back rather than forward for programming ideas. The reminiscence factor may be good if you are looking for an older audience, but it may not be a way to bring in the younger audiences,” Laura Caraccioli-Davis, senior vice president and director of Starcom Entertainment told Mediaweek magazine.

  THE CONTENDERS: New series touted for possible inclusion in the 2005-2006 season
Network Development
ABC
Emily’s Reasons Why Not 
(Sitcom) – an unmotivated teacher in a class of Type-A students.
Life 
(Drama) – a group of young 20-somethings in Chicago facing life on their own.
Soccer Moms 
(Drama) – two suburban mothers become private investigators.
Fox
Briar & Graves 
(Drama) – a horror series in the vein of X-Files.
Hitched 
(Comedy drama) – a brother and sister run a Las Vegas wedding chapel.
Kitchen Confidential 
(Sitcom) – antics in an upscale New York restaurant.
The Loop 
(Comedy) – the travails of a young Chicago executive.
New Car Smell 
(Comedy) – a Brooke Shields star vehicle in a Las Vegas car dealership
Queen B 
(Sitcom) – Alicia Silverstone as a trendsetting columnist.
Reunion 
(Drama) – shows the lives of a group of friends over 20 years with each episode chronicling one year.
NBC
All In 
(Sitcom) – Janeane Garofalo as a single mom and professional poker player in Las Vegas.
Dante 
(Sitcom) – sports themed revolving around an NFL star.
Hot Property 
(Sitcom) – the competitive world of the real estate agent.
Lies and the Wives We Tell Them 
(Sitcom) – politically incorrect family comedy.
Notorious 
(Sitcom) – Tori Spelling stars in a mockumentary of her life.
WB
Nobody’s Watching 
(Sitcom) – two normal guys win a reality show where their lives become a sitcom.
Pepper Dennis 
(Drama) – Rebecca Romijn as a modern Mary Richards-type journalist in Chicago.
Sisters 
(Drama) – four sisters coping with life in the city.


Monday, October 24, 2011

Italy’s Marco Simoncelli, 24, has died after a crash during the second lap of the 2011 Malaysia Moto GP Grand Prix held at the Sepang International Circuit.

While veering accross the track on the exit of turn 11, Simoncelli was hit by the bike of Colin Edwards and fell into the path of Edwards and Valentino Rossi. The other riders were powerless to avoid Simoncelli. Such was the force of the collision, Simoncelli’s helmet was dislodged and bounced several metres. Fellow rider Casey Stoner said “Whenever the helmet comes off that’s not a good sign.”

Simoncelli lay without moving in the centre of the track, causing the race to be immediately red flagged for safety reasons. When medics arrived, he was in cardiac arrest and they fought to resuscitate him in the ambulance and medical centre. Simoncelli died from his injuries at 16:56 local time.

Known for his aggressive attacking style, Simoncelli had enjoyed a run of success in Moto GP despite his status as a relatively new rider on a satellite bike and was predicted by many to be a rising star of the sport. His death is a blow to the Moto GP world.

The official Moto GP statement is as follows:

“On Sunday, 23 October, during the MotoGP race at the Sepang International Circuit, San Carlo Honda Gresini’s Italian rider Marco Simoncelli suffered a serious accident wherein he sustained critical injuries.

“The race was stopped immediately with the red flag and Simoncelli was transported by ambulance to the circuit medical centre where the medical staff worked to resuscitate him.”

The death is the first in Moto GP since Japan’s Daijiro Katoh died in his home race in 2003 and follows the death of Japanese rider Shoya Tomizawa in the 2010 inaugral Moto2 season. Edwards also fell from his bike and sustained a dislocated shoulder, Rossi remained onboard.



The time is 17:00 (UTC) on May 26th, 2006, and this is Audio Wikinews News Briefs.

Contents

  • 1 Headlines
    • 1.1 Shots fired on Capitol Hill
    • 1.2 U.S. Senate passes immigration reform bill
    • 1.3 Melbourne – Adelaide train services disrupted into next week following fatal crash
    • 1.4 Australian troops land in East Timor
    • 1.5 Science minister visits Australia’s newest nuclear reactor, receives nuclear power report
    • 1.6 BitTorrent index sues MPAA
    • 1.7 Hundred million dollar New Zealand drug bust
    • 1.8 Left parties:Don’t let U.S meddle in India’s internal affairs
  • 2 Closing statements


Monday, April 25, 2005

With two space walks, 78 million miles and six months on board the International Space Station under their belts, Commander-Science Officer Leroy Chiao and Flight Engineer Salizhan Sharipov, the station’s 10th crew, landed in Kazakhstan in a Soyuz spacecraft at 6:08 p.m. EDT Sunday.

Also returning was European Space Agency Astronaut Roberto Vittori of Italy, who launched to the Station with the Expedition 11 crew and spent eight days doing experiments. He was aboard under a contract between ESA and the Russian Federal Space Agency.

The re-entry of the ISS Soyuz 9 spacecraft was perfect, returning the astronauts to Earth 53 miles northeast of the town of Arkalyk after 192 days, 19 hours and 2 minutes in space for the Expedition 10 crew. The recovery team reached the capsule in minutes.

They launched from the Baikonur Cosmodrome in Kazakhstan last Oct. 13 at 11:06 p.m. EDT. During their increment they performed two spacewalks, continued station maintenance and did scientific experiments.

Notable accomplishments included replacing critical hardware in the Joint Quest Airlock; repairing U.S. spacesuits; and submitting a scientific research paper on ultrasound use in space. Chiao was also the first astronaut to vote in the U.S. Presidential election from space. The crew completed two spacewalks, including experiment installation and tasks to prepare the Station for the arrival of the new European Automated Transfer Vehicle next year.

Aboard the Station, Commander Sergei Krikalev and Flight Engineer and NASA Station Science Officer John Phillips, the Expedition 11 crew, are beginning a six-month mission. It will include the resumption of Space Shuttle flights and two spacewalks from the Station. Expedition 11 is scheduled to return to Earth on October 7, 2005. The two latest occupants of the station launched with Vittori from Baikonur April 14.

Krikalev and Phillips will have light duty for the next two days, as they rest after completing a busy handover period. For the past week, they have been learning about Station operations from the two men who called the ship home since October. Chiao and Sharipov briefed Krikalev and Phillips on day-to-day operations and gave them hands-on opportunities at Station maintenance. Chiao and Phillips restored the Quest airlock to working order for future spacewalks and practiced operating the Canadarm2 robotic arm.



Thursday, January 28, 2010

The International Air Transport Association (IATA) said on Wednesday that 2009 was the “worst year” that the airline industry has ever seen since 1945.

“In terms of demand, 2009 goes into the history books as the worst year the industry has ever seen,” said IATA boss Giovanni Bisignani. “We have permanently lost 2.5 years of growth in passenger markets and 3.5 years of growth in the freight business.”

According to the group, passenger traffic was down by 3.5% compared to a year earlier, and freight by 10.1%. The group estimated that the airline industry lost a total of US$11 billion in 2009 last year, and will lose another $5.6 billion in 2010.

Airlines in Africa had the biggest passenger demand drop, at 6.8%; North American airlines and Asian carriers had demand go down 5.8%. European airlines saw a drop of 5%. Middle Eastern and Latin American carriers, however, had rises in demand, with gains of 11.3% and 0.3%, respectively. According to the Agence France-Presse news agency, part of the reason Middle Eastern carriers performed better is because of their position between Asia, Africa, and Europe, resulting in more connecting flights through hubs.

“While both North American and European carriers saw demand improvements in the first half of the year, the second half was basically flat,” said IATA.

IATA represents 230 airlines, accounting for 90% of scheduled air traffic, although some budget carriers are not included.

The IATA boss said that, although the worst appeared to be over due to the global economic recovery airlines would have to keep their costs low. “Revenue improvements will be at a much slower pace than the demand growth that we are starting to see,” he noted.

“Profitability will be even slower to recover and airlines will lose an expected 5.6 billion dollars in 2010. The industry starts 2010 with some enormous challenges. The worst is behind us, but it’s not time to celebrate. Adjusting to 2.5 to 3.5 years of lost growth means that airlines face another spartan year, focused on matching capacity carefully to demand and controlling costs,” Bisignani continued.

Costs for security were also an issue. Bisignani said: “Governments and industry are aligned in the priority that we place on security. But the cost of security is also an issue. Globally, airlines spend US$5.9 billion a year on what are essentially measures concerned with national security. This is the responsibility of governments, and they should be picking up the bill.”

Analysts, however, say that cost cutting measures, intended to attract more customers, would also harm airline profits. Saj Ahmad, an independent airline analyst, commented: “Continued fare wars between airlines mean that yields and profitability will be low. Airlines are struggling to fill their airplanes and discounted ticketing has done little to alleviate the pressures on their costs,” as quoted by the BBC.

“Capacity has come out of the global airline system, but until a few airlines perhaps exit the industry through bankruptcy or mergers, there is still a very long road until we see serious stability, let alone growth,” Ahmad added.



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