More airlines fold as fuel prices soar – IATA

Twenty-five airlines went bust or stopped operations in the first six months of this year and more could fold as fuel prices soar, a spokesman for aviation industry association IATA warned.

‘In the last six months we suspended 25 airlines from the settlement system. Suspension occurs when an airline goes bankrupt or ceases operations. This is more concentrated than at any time in the history of the system,’ an IATA spokesman told Agence France-Presse.