How long, how deep?

At the recent SpeedNews 23rd Annual Commercial Aviation Industry Suppliers Conference colourful analyst Richard Aboulafia of Teal Group summarized the current turmoil as a “world economic heart attack.”

At the same conference Adam Pilarski of Avitas said the consultancy expects “for the first time since the end of World War II,” negative world GDP growth in 2009, while international air cargo traffic has simply collapsed, down 23% in December and January.