The Business Times

Iata trims global profit forecast by US$1b

It cites higher fuel prices triggered by Ukraine crisis but adds that industry upturn will continue

Anita Gabriel
Published Wed, Mar 12, 2014 · 10:00 PM
Share this article.

THE International Air Transport Association (Iata) has cut its global profit forecast by US$1 billion to US$18.7 billion for the airline industry in 2014, no thanks to higher fuel bills caused by the Ukrainian crisis.

"Some risks are quite obvious. The situation in the Ukraine is causing instability that is pushing up the price of oil. And that was the main negative driver of today's downwards revision," said the Geneva-based organisation's director general and chief executive Tony Tyler in a media briefing yesterday.

Still, based on the context of the industry's large revenues of some US$745 billion, he described the revision as a "tweak" than a substantial downgrade.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to

Transport & Logistics


Get the latest coverage and full access to all BT premium content.


Browse corporate subscription here