The International Air Transport Association boosted its prediction for net profit for the industry in 2010 but sees a “pause” in recovery for the aviation industry in 2011.
IATA, which represents 230 airlines, raised its outlook for 2010 to a net profit of $15.1 billion, up from the $8.9 billion forecast in September. The group increased its 2011 net profit estimate to $9.1 billion from $5.3 billion forecast in September.
Our profit projections increased for both 2010 and 2011 based on an exceptionally strong third quarter performance. But despite higher profit projections, we still see the recovery pausing next year after a strong post-recession rebound,” said Giovanni Bisignani, IATA’s Director General and CEO.
To read IATA’s full report, click here.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.