Chennai: Good days are back again for the aviation industry. As per a survey by IATA (International Air Travel Association), 73% of the respondents expect an improvement in profitability in the next 12 months. "Consolidation and efficiency gains have helped airlines in some regions increase profits in 2012, and that is likely driving the expectation for further financial improvements in 2013," IATA said.
The association said that the improvement in outlook compared to January largely reflects the outcome of structural changes rather than acceleration in global economic growth. Also, the first two months of 2013 have seen strong expansion in the growth trend, supported by improvements in the business environment and solid economic growth in emerging regions. "For the 12 month outlook, respondents expect to see an increase in cargo traffic," IATA said.
27/04/13 Aparna Ramalingam/Times of India
