IATA Raises 2011 Airline-Industry Profit Forecast

According to the latest estimates from the International Air Transport Association (IATA), the global airlines industry is expected to report a stronger-than-expected net profit of US$6.9 billion in 2011. In June, it projected a net profit of US$4 billion for the airline sector this year, versus US$16 billion in 2010. IATA projects airlines' profits to drop to US$4.9 billion next year on revenue of US$632 billion.