IATA Sees Asia-Pacific Airlines Posting $5.2-B Profit for 2010
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 $2.8 billion to a loss of $1.3 billion. The gains are largely attributed to traffic into Europe, boosted by the low currency which has stimulated exports and improved the air cargo business. Continuing economic weakness in the European economy and faltering consumer confidence continues to depress originating passenger traffic.IATA forecasts that North …
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Publication information: Article title: IATA Sees Asia-Pacific Airlines Posting $5.2-B Profit for 2010. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: September 28, 2010. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2010 Gale Group.
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