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PROFIT TAKE-OFF

PROFIT TAKE-OFF: The International Air Transport Association is forecasting that global airlines will earn a collective $9.8-billion in profit this year, which is double its previous estimate published in December. In a speech this month, director-general Willie Walsh indicated that the increase was attributable to a post-pandemic surge in flying in North America and Europe, driving up ticket prices. However, he also warned that margins remained “wafer thin”. Photograph: Bloomberg

Photo by Bloomberg

16th June 2023

     

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The International Air Transport Association is forecasting that global airlines will earn a collective $9.8-billion in profit this year, which is double its previous estimate published in December. In a speech this month, director-general Willie Walsh indicated that the increase was attributable to a post-pandemic surge in flying in North America and Europe, driving up ticket prices. However, he also warned that margins remained “wafer thin”. Photograph: Bloomberg

Edited by Creamer Media Reporter

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