Mumbai: Higher altitude I Airlines are likely to post collectively $19.9 billion profit this year and $25 billion in the next as falling oil prices and economic recovery provide tailwind, says IATA.
International Air Transport Association (IATA) has raised its profit outlook for global airlines on lower oil prices and recovery prospects of world economy.
The industry body sees airlines globally posting collective net profit of $19.9 billion this year, up from $18 billion projected in June. This looks set to rise to $25 billion in 2015, IATA said.
"Stronger industry performance is good news for all. It's a highly competitive industry and consumers—travellers as well as shippers—will see lower costs in 2015 as the impact of lower oil prices kick in. A healthy air transport sector will help governments in their overall objective to stimulate the economic growth needed to put the impact of the global financial crisis behind them at last," said Tony Tyler, IATA's director general and CEO.
11/12/14 Shahkar Abidi/Daily News & Analysis
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International Air Transport Association (IATA) has raised its profit outlook for global airlines on lower oil prices and recovery prospects of world economy.
The industry body sees airlines globally posting collective net profit of $19.9 billion this year, up from $18 billion projected in June. This looks set to rise to $25 billion in 2015, IATA said.
"Stronger industry performance is good news for all. It's a highly competitive industry and consumers—travellers as well as shippers—will see lower costs in 2015 as the impact of lower oil prices kick in. A healthy air transport sector will help governments in their overall objective to stimulate the economic growth needed to put the impact of the global financial crisis behind them at last," said Tony Tyler, IATA's director general and CEO.
11/12/14 Shahkar Abidi/Daily News & Analysis
