Airline losses

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The Independent Online
The world's scheduled airlines are facing losses totalling dollars 2bn on international operations this year as job cuts and other cost-saving measures fail to counteract the impact of empty seats and cut-throat fare wars, the International Air Transport Association convention in Geneva was told yesterday. IATA senior director Tom Murphy said overcapacity was equivalent to flying 400 empty Boeing 747 aircraft between London and New York every day. Photograph: Jonathan Weaver

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