World’s airlines to make $8.9bn profit, Iata says
The world’s airlines are expected to post a profit of $8.9bn (£5.7bn) this year, an industry body has said, in a sharp upgrade of its previous forecast.
The International Air Transport Association (Iata) said the industry recovery had been “stronger and faster than anyone predicted”.
In June, it had predicted a much smaller profit of $2.5bn. In March, it had expected a loss of $2.8bn.
Iata said increasing demand and stable costs were driving the recovery.
However, Iata chief executive Giovanni Bisignani warned that there was still uncertainty surrounding the strength of the recovery.
“The $8.9bn profit that we are projecting will start to recoup the nearly $50bn lost over the previous decade. But a reality check is in order,” he said.
“There are lingering doubts about how long this cyclical upturn will last.”
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