The airline will renew with profits in 2010
Posted by admin | Under business, events, life, publications, special Monday Jun 7, 2010Optimism on the air. The International Air Transport Association (IATA), which represents 230 airlines companies accounting for 93% of global air traffic, has revised upward its net earnings forecast for the sector, saying it would return to profit this year , thanks to his efforts to "reduce costs and restructuring, but also to promote economic recovery.
The association now expects the world's airlines recorded a profit of 2.5 billion dollars in 2010, she said during his meeting in Berlin on Monday. In March, it expected a loss of 2.8 billion. With a loss of 9.4 billion, 2009 was the worst year the industry has experienced.
Strong rebound in air traffic
"The global economy out of the depths of the financial crisis much more quickly than expected.The airlines benefit from the strong rebound in traffic and back into the green, "said IATA Director General Giovanni Bisignani. "This is the first profit since 2007," he said. According to the association, air traffic is expected to jump by 7.1% this year.
Consequently, the total revenue the airline expected to reach $ 545 billion in 2010, against a forecast of 522 billion last March. A performance well above 483 billion recorded in 2009, but always below the 564 billion revenue in 2008.
"We thought we would have at least three years to make up for the loss of 81 billion (14.3%) of revenue that we suffered in 2009," said Giovanni Bisignani, saying the airline industry has found "his levels before the crisis "at 75%.
Europe alone in the red
The Director General of IATA has bolted not yet.With a margin of 0.5%, "we are far from sustainable profitability," he warned. Especially as the expected improvement is not concern the industry as a whole. "Europe, with a weak economy, is the only region to be in the red with losses of 2.8 billion, has again warned the general manager.
Giovanni Bisignani, director general of IATA, in Berlin. Photo credits: AFP