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Record profits forecast for airline industry

22 December 2010

Industry association IATA on Tuesday raised its forecast for airline earnings in 2010 to a record 15.1 billion dollars, but warned that profits would slide next year.

The forecast profit marked a significant step up from the previous figure of 8.9 billion dollar in earnings expected this year.

Two-thirds of 2010’s expected profits were generated in the second quarter, the International Air Transport Association said.

Growth is largely going to come from fast-growing Asia, which will post more than half of the 2010 profit at 7.7 billion dollars.

source: AFP

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