IATA reversed its 2010 air industry forecast to a $2.5 billion global profit from the $2.8 billion loss it had projected in March - Business Travel News

Share this page

Text size: A A A

NewsLog
RSS

June 08, 2010 - 06:17 PM ET

IATA reversed its 2010 air industry forecast to a $2.5 billion global profit from the $2.8 billion loss it had projected in March . The International Air Transport Association cited a recovering global economy that has generated a "strong" rebound in overall traffic to "pre-recession levels" and a "sharp" increase in business travel. "Despite earlier fears that the financial crisis would result in a structural change to the premium market, it now appears to be recovering cyclically in many regions--alongside improvements in global trade," according to IATA. "World trade is still rising sharply and surveys show business confidence, outside Europe, has regained pre-recession levels." The group expects the airline sector in all regions to post overall net profits, except Europe, where it predicted a $2.8 billion loss.

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint

Leave your comment:

Comments

blog comments powered by Disqus
Related NewsLog
Airberlin on March 20 will become a full Oneworld member,... read more »
Radius named Fernando Marcomini manager for Latin America sales and client relations, a new position.... read more »
EasyJet announced a "pan-European commercial agreement" with American Express Global Business Travel.... read more »
JetBlue Airways and Singapore Airlines announced a new interline agreement... read more »
UAE's Etihad Airways agreed to increase its stake in Airberlin to 29.21 percent, becoming the German carrier's largest shareholder,... read more »
Kingfisher Airlines on Feb. 10, 2012 will join Oneworld,... read more »
The Global Business Travel Association hired Welf Ebeling as regional director of GBTA Asia,... read more »
Belgium's Key Travel joined GlobalStar Travel Management.... read more »
Star Alliance named United Airlines senior vice president of alliances Mark Schwab its new chief executive.... read more »
Travel management company ATPI added Thailand's Waranart Travel to its partner network,... read more »
Australian authorities this week approved a joint venture between Virgin Australia and Singapore Airlines,... read more »