Passenger Cruise Line Industry Reporting Essay Sample

Passenger Cruise Line Industry Reporting Essay Sample

… of fact. As the war with Iraq was beginning to take its toll on the industry, the recent SARS, Severe Acute Respiratory Syndrome, outbreak is hurting many.
In late March, the US airline industry appealed to Washington for $4 billion in aid, claiming the Iraq war coupled with terrorism fears had resulted in a sharp decline in air travel (US 2003). According to James May, president of …

… next 60-90 days were down 20 percent, international bookings were down 40 percent, Latin America were down 15 percent, and some 30 percent for the Pacific (US 2003). Moreover, some airlines were reporting more cancellations than bookings on particular flights (US 2003).
May said that carriers had cut capacity between 6 and 12 percent since the beginning of the war, forcing the elimination of more than …

… Japan Airlines System Corp, All Nippon Airways, Hong Kong’s Cathay Pacific Airways, Korean Air, and Indonesia’s state owned Garuda Indonesia” (Hares 2003). Finland’s national carrier Finnair has reported that its passenger numbers were already down in March when SARS hit and Germany’s Deutsche Lufthansa AG warned of an “unexpectedly deep first-quarter operating loss due to a sharp fall in passenger numbers” (Hares …

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