Fraud costs airlines €440m

Fraud is costing the airline industry more than €440 million a year, according to a report co-published by Deloitte and the IAAIA (International Association of Airline Internal Auditors) yesterday.

According to the findings, fraud has increased five-fold since the last in-depth study of the industry six years ago.

Deloitte found that the average airline loses €2.2m a year to fraud, with low-cost carriers being the hardest hit.