Mumbai: "The fall in airline profits from the $8.4 billion that the industry earned in 2011 will be cushioned by improved airline performance," said a release issued Monday by the International Air Transport Association (IATA), announcing an upward revision to its global aviation outlook for 2012.
"Airlines are expected to earn $4.1 billion in 2012 (up $1.1 billion from the $3.0 billion forecast in June). The revision will still see the industry's net profit margins fall from the 1.4% realized in 2011 to 0.6% (up from the previously forecast 0.5%)," the release said. In a first look at 2013, IATA sees global profits rising modestly to $7.5 billion, though this is a net margin of just 1.1%.
"Asia-Pacific airlines are set to post a $2.3 billion profit for the year. That is $0.3 billion better than previously forecast. With 40% of the global cargo market, the region's carriers are the most exposed to weak cargo demand," said the IATA statement.
01/10/12 Manju V/Times of India
To Read the News in full at Source, Click the Headline
"Airlines are expected to earn $4.1 billion in 2012 (up $1.1 billion from the $3.0 billion forecast in June). The revision will still see the industry's net profit margins fall from the 1.4% realized in 2011 to 0.6% (up from the previously forecast 0.5%)," the release said. In a first look at 2013, IATA sees global profits rising modestly to $7.5 billion, though this is a net margin of just 1.1%.
"Asia-Pacific airlines are set to post a $2.3 billion profit for the year. That is $0.3 billion better than previously forecast. With 40% of the global cargo market, the region's carriers are the most exposed to weak cargo demand," said the IATA statement.
01/10/12 Manju V/Times of India
