Worst over but recovery to be slow

London: The chief executive of low-cost airline easyJet believes the worst of the recession is over for the airline industry but warned recovery would be slow.

"I think the worst is over but I don't see any improvement either and expect demand to be stable for the next nine months at least," chief executive Andy Harrison told Reuters in an interview yesterday.

"Winter will be a continuation of what we have seen ... we will see continuing weaker consumer demand."

The airline last week reported a 65 per cent fall in full-year profit, its worst annual performance since 2001, after it hedged fuel prices at high levels.

Passenger numbers rose 3.4 per cent to 45.2 million, its slowest growth rate since the airline listed on the London Stock Exchange in November 2000, and analysts cautioned that the turning point in sector demand might be some way off.

Harrison said the airline, which uses Airbus aircraft, would not look to cancel any of its existing aircraft orders, despite the sluggish demand picture.

"We have got something like 70 new committed aircraft deliveries over the next three years and they will go ahead," he said.

EasyJet, which is the biggest carrier at London's Gatwick airport, has also launched online check-in to passengers with hold baggage. Previously only passengers travelling with hand baggage were able to check-in online.

The global recession has battered the airline industry as consumers cut back on trips and IATA has forecast that airlines would lose a collective $11 billion this year..