The aviation industry will be more profitable than expected this and next year, the International Air Transport Association (IATA) said Thursday.
Carriers were forecast to make a total profit of $8.4 billion in 2013, 12 percent higher than IATA's previous assessment from October.
The upward revision was much higher for this year. IATA raised its profit prediction by 63 percent to $6.7 billion.
Business travel improved this year as global trade outpaced overall economic growth, IATA said in Geneva.
However, stronger trade did not help the air cargo business. Air freight decreased because customers preferred ocean shipping.
Most Popular Stories
- Boehner Lashes Out Against Ted Cruz, Far Right
- Hawaii Official Who Release Obama Certificate Only Victim of Plane Crash
- Ted Cruz Coloring Book Selling Briskly
- Ford Plans New Cars, Jobs in 2014
- Kim Jong Un's Uncle Executed
- 'Rape Insurance' Bill Passes in Michigan
- Gold, Silver Slide on Prospects of Fed Exit
- Holiday Shopping Off to a Slow Start This Season
- Grizzly Bears Could Be Taken Off Endangered List
- TFA Recruiting DACA Recipients