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GENEVA — The global airline industry can expect a bleak 2009, with sectorwide losses of $2.5 billion despite deep cost cuts by U.S. carriers this year, the International Air Transport Association said Tuesday. IATA chief executive Giovanni Bisignani said next year would see the worst revenue environment in 50 years but that U.S. carriers — many of which have already slashed capacity and cut staff as high oil prices sapped revenue during 2008 — could still turn a modest profit in 2009. The IATA forecasts that global passenger traffic will drop 3 percent in 2009, the first decline since terrorist attacks on the U.S. in 2001 abruptly slowed global air traffic by 2.7 percent. The Associated Press
