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Indiaexportnews.com

IATA raises profit outlook for world airlines

  05.10.2012    

The International Air Transport Association (IATA) expects the US$630 billion airline industry to make a net profit of $4.1 billion this year, up from an earlier forecast of $3 billion but still less than half the $8.4 billion achieved in 2011, according to the Shipping Gazette. 
But IATA has pushed its forecast for cargo into the red, pointing out that the economically sensitive sector is expected to see a 0.4 per cent contraction in 2012 instead of 0.3 per cent growth as previously forecast.
About 40 per cent by value of internationally shipped goods go by air and cargo demand is seen as a barometer for world trade and the health of the economy.
IATA, which represents about 80 per cent of global carriers, said airlines have raised their profit forecasts for 2012 and expect improved performance in 2013 as efforts by North American airlines to trim capacity have boosted margins and demand in Asia has held up despite a weak global economy.
IATA also said in its first forecast for 2013 that industry profits will rise further next year to $7.5 billion, helped by passenger traffic expansion of 4.5 per cent and cargo expansion of 2.4 per cent as global economic growth quickens to 2.5 per cent from an expected 2.1 per cent this year.
Profit margins will remain razor-thin at 1.1 per cent in 2013 versus an expected 0.6 per cent in 2012, the association. "The outlook improvement is due to airlines performing better in a difficult environment," said IATA director general Tony Tyler, former CEO of Hong Kong's Cathay Pacific Airways.
"The European sovereign debt crisis lingers on. China continues to moderate its growth and the impact of recent quantitative easing in Japan and the US will take time to yield growth," he said.


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