Sector pulls off strong rebound; airlines' profit up 60%

[SINGAPORE] Next year could be one of the strongest yet for aviation this century. A bottom line of US$16.4 billion - second only to the 2010 record of US$19.2 billion - is expected as a result of improving business conditions and easing oil prices.

Regional airlines will chalk up a profit of US$3.6 billion next year, 16 per cent higher year on year, fuelled by a recovering cargo market and growth in the Chinese domestic market, said the International Air Transport Association (Iata).

But North American carriers will come out tops with US$6.3 billion on the back of a healthier economy and higher yields.