News Column

Airlines Group Sees Big Profits for 2012-13

Dec 13, 2012

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.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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