(PTI): The International Air Transport Association (IATA) has forecasted a 5.6 billion dollar loss for airlines in the next year.

The estimate is bigger than the previously expected $3.8 billion, as the aviation industry is still facing the impact of the global economic crisis. IATA also warned that airlines should be prepared for another turbulent year despite a recovery in passenger traffic.

“Between 2000 and 2009 airlines lost 49.1 billion, which is an average of 5 billion dollars per year,” said IATA Director General Giovanni Bisignani.

Bisignani called on airlines to “fasten their seatbelts in turbulent moments.”

IATA represents some 230 carriers that account for more than 90 percent of air traffic in the world.