Business Services Industry
Airline and hospitality hard hit.
Australasian Business Intelligence, March, 2003
Mar 23, 2003 (The Australian Financial Review - ABIX via COMTEX)
Business and tourism travellers have cancelled or postponed air travel since war with Iraq commenced. This is having a major economic effect on the airline and hospitality industry sectors in Europe, Asia and North America. Several international airlines, such as Northwest Airlines, announced job cuts on the weekend of 22-23 March 2003. Duke University's Fuqua School of Business and Financial Executives International, in a survey of 187 chiefs of finance of US corporations, found 67 per cent have reacted directly to the uncertainty created by war with Iraq. A proportion of 45 per cent had also become less optimistic about the economy, the survey found.
Publication Date: 24 March 2003...
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