Seoul: Global airlines slashed a widely watched industry profit forecast by 21% on Sunday as an expanding trade war and higher oil prices compound worries about an overdue industry slowdown.
The International Air Transport Association (IATA), which represents about 290 airlines, or more than 80% of global air traffic, said the industry is expected to post a $28-billion profit in 2019, down from a December forecast of $35.5 billion. “Airlines will still turn a profit this year, but there is no easy money to be made,” IATA director general Alexandre de-Juniac said at the group’s annual meeting here.
03/06/19 Reuters/Times of India
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The International Air Transport Association (IATA), which represents about 290 airlines, or more than 80% of global air traffic, said the industry is expected to post a $28-billion profit in 2019, down from a December forecast of $35.5 billion. “Airlines will still turn a profit this year, but there is no easy money to be made,” IATA director general Alexandre de-Juniac said at the group’s annual meeting here.
03/06/19 Reuters/Times of India
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