Skift Take
That IATA is as concerned about Brazil as it is about Venezuela and Argentina says quite a lot. Aviation's World-Cup woes in Brazil have carried over to the Olympics, and Brazil's troubles are reaching beyond its borders to drag down the entire Latin American aviation sector.
During a special session on the Latin American market, as part of the presentations given for International Air Transport Association (IATA) Media Day in Geneva, IATA's Peter Cerda, Regional Vice President, Americas declared Brazil one of the most expensive countries in the world for airlines to operate.
"Brazil is engulfed in a perfect storm as airlines struggle under the burdens of a deepening recession, a deteriorating Real and government policies that impose crushing costs on the industry," Cerda told reporters.
Airlines in Brazil, Cerda says, had combined losses of nearly $1.56 billion Reals (USD $400M) in the first half of 201
