Aviation Industry Performance: A Review of the Aviation Industry in 2008
On May 6, we issued the tenth in a series of our periodic updates to our Aviation Industry Performance Report. This report provides a comprehensive analysis of aviation industry trends in 2008 and their impact on aviation system performance, demand and capacity for domestic and international flights, and air service in small communities. Airlines faced many challenges in 2008 – unprecedented fuel prices in the first three quarters of the year were followed by a worsening global economic recession in the fourth quarter. Both of these led to leading network, low cost and regional airlines reporting $5.8 billion in operating losses for the year and multiple airline bankruptcies. This report looks at the industry’s response to these operating challenges and the impact of the measures implemented by airlines on air service across the National Airspace System and the flying public in general.