Soaring oil price sets airlines on course to recession, expert says

The global airline industry is facing a recession far more severe than the slowdown endured after the terrorist attacks of 2001, a leading aviation expert claims.

William Swelbar, a consultant to the Massachusetts Institute of Technology, told The Times that the true health of the aviation market – especially in the United States – will not become clear until this autumn, after the key holiday season.

“Many flights … over the next few months were booked months ago, so it distorts the true picture of what is happening. What is for sure is that we are headed towards a severe slowdown. We may already be in a recession,” Mr Swelbar said.

The Times