Article01 - Airlines to Post $2.5 Billion Profit; IATA...

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Airlines to Post $2.5 Billion Profit; IATA Scraps Loss Forecast 2010-06-07 07:30:00.13 GMT By Andrea Rothman and Steve Rothwell June 7 (Bloomberg) -- The airline industry will post a $2.5 billion profit in 2010, reversing two years of losses, the International Air Transport Association said today, scrapping an estimate for a $2.8 billion deficit as the economy rebounds. The profit would be the industry’s first since 2007 and only the third in a decade after previous results were afflicted by recession, terrorist attacks, epidemics and wars. Europe is the only region still forecast to lose money in 2010. Prospects for carriers have improved in the past few months as economic growth in Asia and the U.S. boosts demand for travel and capacity cuts imposed last year bolster ticket prices. IATA had been predicting a loss as recently as March 11. “The global economy is recovering from the depths of the financial crisis much more quickly than could have been anticipated,” IATA Chief Executive Officer Giovanni Bisignani
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This note was uploaded on 06/18/2011 for the course IEOR 4307 taught by Professor Dr.kosrowdehnad during the Summer '10 term at Columbia.

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Article01 - Airlines to Post $2.5 Billion Profit; IATA...

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