Record profits for aviation industry this year, but challenges remain

Singapore

THE global aviation industry is cruising towards record profits for the year, though the region's carriers will have to manage headwinds in the form of unpredictable currency movements, overcapacity and external risks.

The International Air Transport Association (Iata) has said that carriers could record their best year yet, with a collective net profit of US$29.3 billion, up nearly 80 per cent from a year ago, thanks in part to lower fuel prices and robust load factors.