Global airlines to see profit of US$13b
Source: Agencies |
June 4, 2013, Tuesday
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Print Edition
Print Edition
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.
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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