The Paris Air Show is being held this week, but only a handful of new business is expected to bolster an industry still rattled by the recent Air France crash.

The 100th Paris Air Show will also be a subdued affair compared with the 2007 exposition.

IATA predicts global passenger travel in 2009 is likely to fall eight percent from 2008. While cargo demand will be down 17 percent. The world aviation sector is expected to suffer nine billion US dollars worth of losses this year.

This year, many exhibitors are not expecting major announcements in terms of sales. Some even say they will be lucky if no one cancels existing orders.