IATA predicts airline profits - but not in Europe
06.06.10
The airline industry will post profits totalling $2.5 billion in 2010, reversing two years of losses, the International Air Transport Association (IATA) said at its annual conference in Berlin today. This compares to a previous forecast of $2.8 billion in losses, with the upgrade due to the rebounding economy. However, airlines in Europe region as a whole are forecast to lose money in 2010, the only region IATA expects to do so.
Prospects for airlines have improved over the past few months as economic growth in Asia and the US boosts demand for travel, and capacity cuts imposed last year boost ticket prices. IATA had been predicting a loss as recently as March 11. If correct, the global profit would be the industry’s first since 2007 and only the third in a decade.
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