Airline industry’s second quarter net profit $4.4 bn: IATA
October 4th, 2010 - 7:44 pm ICT by IANSNew Delhi, Oct 4 (IANS) The International Air Transport Association (IATA) Monday reported a net profit of $4.4. billion for the international airlines sector and outlined a positive growth trajectory for the industry.
“With more airlines reporting second quarter results, the total is now up to US$4.4 billion, following US$1.9 billion losses in first quarter (Q1),” the industry body said in a statement.
According to it, the first and second quarter net profits were US$5 billion better than the previous year and it expects the third quarter would be the most profitable one for the industry.
It further said that it expected the industry to make a profit of $8.9 billion in 2010, compared to a loss of $9.9 billion loss in 2009.
IATA, which represents 230 airlines comprising 93 percent of scheduled international air traffic, has revised its previous estimate. In June, IATA had said it was expecting $2.5 billion profit.
The improved outlook for 2010 is being driven by a combination of factors. On the revenue side increasing demand and disciplined capacity management are leading to sharply stronger yields pushing revenues higher. At the same time, costs remain relatively stable.
Earlier, the association had said that the Indian carriers will pare their losses this year to $400 million, from the $1.7 billion in 2009, as passenger and cargo traffic increase and fuel prices remain stable.
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Tags: air transport association, airline industry, capacity management, cargo traffic, first quarter, fuel prices, growth trajectory, IATA, international air traffic, international air transport, international air transport association, international airlines, losses, net profit, net profits, New Delhi, previous year, quarter results, time costs, traffic increase