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Transportation

Emirates Warns On Global Airline Failures

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By Douglas A. McIntyre Published
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The International Air Transport Association released figures recently that show it expects profits among its member airlines and air cargo carriers to fall precipitously this year compared to its previous forecasts. That is for the most part, the association says, to rising oil prices. Along with that, problems with the EU economy could dampen passenger and cargo demand. Management at Emirates, one of the world’s largest carriers, painted an even more bleak picture. In an interview with Bloomberg, Tim Clark, the CEO of the Dubai based airline said “We can reel off a whole load of airlines that are teetering on the brink or are really gone. Roll this forward to Christmas, another eight or nine months, and we’re going to see this industry in serious trouble.”

The AMR bankruptcy make be followed by other shortly. And, there is likely to be more consolidation like the United Air merger with Continental in the hope of cutting costs

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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