5 JULY 2010
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2019 Business Travel News Ltd.
IATA now expects its member airlines to post a global profit of US$2.5bn in 2010, a major improvement compared with the Geneva-based organisation’s previous forecast released in March of a US$2.8bn loss. Outgoing Director General and CEO Giovanni Bisignani said: “We thought that it would take at least three years to recover the US$81bn (14.3%) drop in revenues in 2009. But the US$62bn top line improvement this year puts us about 75% on the way to pre-crisis levels,” he said. “The US$2.5bn profit comes with some important health warnings. First, this represents a net margin of just 0.5%, which is a long way from sustainable profitability. Second, a major part of the global industry is still posting big losses. A stagnating economy, strikes, natural disasters, and a currency crisis have left European carriers as the only region really struggling with an anticipated US$2.8bn loss. He highlighted Asia-Pacific carriers continuing to benefit from strong regional growth and that North American carriers are expected to return a profit of US$1.9bn. www.iata.org
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?