New Delhi, Oct. 24 -- Though worst is over for global aviation industry as per International Air Transport Association (IATA), losses would continue for quite some time to come. While global aviation industry will be incurring a loss of $11 billion in 2009, Indian aviation industry will be contributing $1.5 billion in the same and maximum of which will be coming from state run carrier Air India.

"Though the worst is over, recovery is a long term story as it will be taking at least 3 to 4 years to recover fully," said IATA Director General and CEO Giovanni Bisignani, adding, "Asia will be having a loss of $3.6 billion in 2009 out of which $1.5 billion will be contributed by Indian airlines only."

He also said that out of $1.5 billion losses, maximum will be coming from state run carrier Air India. Though he didn't share further detail as to how much Air India will be contributing in the same.

"We now expect losses from commercial airline operations worldwide in 2009 to reach $11 billion, up from our previous forecast of $9 billion. Our first look into 2010 suggests that losses will continue next year, albeit at a lower level of $3.8 billion. Returns on invested capital in the airline industry may start improving next year, at less than 3 per cent, remain below sustainable levels- the average airline's cost of capital of 7-10 per cent," said Bisignanai.

"Though the beginning of an economic upturn is now visible, particularly in Asia, to the benefit of travel and freight volumes, yields are much weaker than anticipated and oil prices higher," he added.

Noting that aviation infrastructure in India was still a problem, he said user charges or the airport development fees, being charged by private airport developers, was also a problem.