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IATA ups global airlines' 2014 profit outlook, sees US$25b in 2015
[GENEVA] Falling fuel prices and stronger economic growth will enable global airlines to report US$19.9 billion of net profit in 2014, up from a previous forecast of US$18 billion, the International Air Transport Association (IATA) said on Wednesday.
The Geneva-based association, which represents around 250 airlines accounting for 84 per cent of global air traffic, said net profit would rise to US$25 billion in 2015.
"The industry outlook is improving. The global economy continues to recover and the fall in oil prices should strengthen the upturn next year," IATA Director General Tony Tyler said in a statement.
Airlines' spend on fuel will drop to US$192 billion in 2015, from an expected US$204 billion this year, IATA said.