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Global airline net profits will halve this year as rising costs, especially oil prices, offset increasing demand, the industry body IATA said on Wednesday.
The result would be a net profit margin this year of only 1.4 percent — dismissed by IATA Director-General Giovanni Bisignani as more worthy of a charity than an industry — down from 2.9 percent in 2010. Get the full story »
The strong recovery in air travel is slowing as the force of the economic upswing moderates, with growth in business travel continuing to outpace that in economy class, airline industry association IATA said on Thursday.
The number of passengers travelling in business or first class in August was 9.1 percent higher than a year earlier, against a 13.8 percent year-on-year rise in July, the International Air Transport Association said in its monthly premium traffic monitor. Get the full story »
The International Air Transport Association says 47 major carriers it monitors to assess the industry’s financial health reported a net profit of $3.9 billion in the second quarter. The results contrast with the $881 million net loss posted by carriers a year earlier.Get the full story >>
