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This year is expected to be another profitless year for the European airline industry, according to the International Air Transport Association (IATA).
Tony Tyler, the Association's director general and ceo, says the industry is "balancing on a knife edge", with even the strongest airlines feeling the pressure.
The Association of European Airlines says the sector could lose US$1.5 billion this year, while US carriers are expected to post profits of US$3.4 billion.
Tyler blames the difference on sluggish economic growth in Europe and "onerous" EU regulations and legislation.
Also, Europe's air traffic control costs are roughly double those in the United States.
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