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Global airlines to see profit of US$13b
Aggregated Source: Shanghai Daily: Business

GLOBAL airlines should post an industry profit of US$12.7 billion this year, up from a previous US$10.6 billion forecast, as lower oil prices and belt-tightening offset difficult economic conditions, industry group IATA said yesterday.

However, the International Air Transport Association said margins remained weak amid Europe's ongoing debt crisis.

"The day-to-day challenges of keeping revenues ahead of costs remain monumental," IATA director general Tony Tyler said at a meeting of over 200 airlines in Cape Town.

"On average, airlines will earn about US$4 for every passenger, which is less than the cost of a sandwich in most places," he said.

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Copyright Shanghai Daily: Business