Mumbai: International Air Transport Association, an international industry trade organisation of airlines, revised its profit forecast upwards as carriers expect better-than-estimated revenues on back of stronger demand, and improved business confidence.
Closer home, the global airline body said Indian environment will remain challenging due to high costs and a challenging regulatory environment.
Airlines are projected to post a net profit (post tax) of $10.6 billion as against the earlier projection of $8.4 billion with a revised profit margin of 1.6%, up from the earlier estimate of 1.3%, IATA said. The revised forecast was announced via global teleconference by Tony Tyler, IATA's director general and CEO.
21/03/13 Manisha Singhal/Economic Times
