Forecast lowered for air travel

Forecast lowered for air travel

WASHINGTON

A weaker global economy – and a slowdown in China – will likely dampen some of the growth in air travel over the next two decades.

The International Air Transport Association says the number of airline passengers is expected to double to 7 billion by 2034. That figure marks a decrease from a prior forecast of passengers totaling 7.4 billion in 2034, reflecting lower economic growth in China that will likely reduce demand for travel and potentially limit airplane orders for manufacturers Boeing and Airbus.

Despite the lower forecast, China is expected to add 758 million new passengers for a total of 1.2 billion flyers. Those gains would likely mean that China surpasses the United States as the world’s largest passenger market by 2029.

Greek pensioners take to streets ahead of cuts

ATHENS

More than 2,000 pensioners chanting “We can’t live on 300 euros” marched through central Athens to protest plans by the country’s left-wing government to overhaul the pension system.

Protests took place in Athens and 12 other Greek towns and cities Thursday against the proposed reforms that would merge major funds and make the system less reliant on direct state funding.

Pension funds have been severely hit by a massive debt-restructuring deal in 2012, a fast-aging population, and weak contributions due to high unemployment.

The proposed reforms demanded by bailout creditors have further soured ties between the governing left-wing Syriza party and unions, which have called a general strike for Thursday, two days ahead of an austerity budget vote in parliament.

Associated Press