IATA points to rosier aviation outlook

IATA points to rosier aviation outlook
By admin


Growing economic optimism has seen the outlook for the global aviation industry take a turn for the better despite the continuing rise of fuel costs, according to the International Air Transport Association.

The aviation body announced a modest improvement to its financial projection for 2013, driven by stronger revenues. Airlines are now expected to post a combined net post-tax profit margin of 1.6%, up from the previously forecast 1.3%. and net post-tax profits of $10.6 billion, up from the previously projected $8.4 billion.

It comes on the back of upgraded GDP growth forecasts, a reenergised industrial production cycle and a "structural improvement" in the airline industry's financial performance with share prices up 7% since the start of the year.

Tony Tyler, IATA director general and chief executive, described it as a "small step in the right direction".

"Against a backdrop of improved optimism for global economic prospects passenger demand has been strong and cargo markets are starting to grow again," he said.

However, growing confidence is also driving up the cost of fuel, Tyler added. Fuel costs have risen 5% since the start of the year.

In addition, he warned that "curve balls" thrown by governments in the form of taxes and budget cuts could hinder any further progress.

 

 

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