Updated forecast pegs 2008 airline-industry losses at $8 billion
March 02, 2009 at 13:43 PM EST
Airline stocks trade sharply lower, mirroring the bearish action on Wall Street and continuing their weakness from last week. The International Air Transport Association updates its 2008 global-industry financial forecast to a loss of $8 billion, citing a faster-than-expected deterioration in travel demand at the end of last year.