|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    18th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News




IATA continues to lift forecast for airline industry

Bookmark and Share

by Kay Mitchell
IATA continues to lift forecast for airline industry

The International Air Transport Association (IATA) has again revised its forecasts for the airline industry.

According to the industry body, global airlines will make a profit of $15.1 billion (£9.5 billion) this year.

The figure is 70% higher than its previous forecast made in September and significantly better than its anticipated loss of $2.8 billion in March.

Most of the growth will come from Asia, where economic growth is far higher than in Europe and the US, it said.

However, despite the lift in forecasts, the body said profits will dip next year with profits falling to $9.1 billion – this is primarily due to higher fuel prices and the euro zone debt crisis, which will hamper growth in industrialised markets.

IATA also said the spending cuts which are being implemented by many Governments throughout the world will hinder economic growth which will “make it a more challenging environment to grow revenues.”

Commenting, IATA chief executive Giovanni Bisignani said: “Although the $9.1 billion profit projection for 2011 is better than we had previously forecast, next year the industry will face tougher conditions than what we are experiencing today.”

Discuss this in the Finance Markets forums

Story link: IATA continues to lift forecast for airline industry



News posted: December 14, 2010

Financial Services:





Related financial stories to: IATA continues to lift forecast for airline industry:
Previous: «
Next: »

Visited 2613 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , , ,