IATA Sees Asia-Pacific Airlines Posting $5.2-B Profit for 2010

Beginning of article

Asia-Pacific airlines are expected to post a $5.2-billion profit for 2010, higher than the $3 billion recorded in 2007 and double the previously forecasted $2.2 billion, according to the International Air Transport Association (IATA).IATA said the strong improvement is based on strong market growth and yield gains. Renewed buoyancy in air freight markets has been particularly important for airlines in this region, where it can represent up to 40% of revenues. The 23.5% improvement in high volume intra-Asia premium traffic was attributed to a surge in business travel, one of the driving factors.Compared to the June forecast, the prospects for Europe's carriers improved from a loss of …