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Airline profits looking up for 2016, says IATA

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Airline profits looking up for 2016, says IATA
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Airline profits will be boosted again next year by low oil prices and healthy demand for travel – that’s the confident prediction of the International Air Transport Association.

The Geneva-based IATA which represents over 80 percent of global air traffic said net profit would rise by 10 percent, from $33 billion (30.12 billion euros) in 2015 to $36.3 billion (33.13 billion euros) next year – with more than half of earnings coming from North American carriers.

Security concerns after a spate of terrorist attacks have damaged business and the impact on Paris is likely to continue for several months.

But the association says overall improving economies and lower fuel prices are helping to boost spending especially on leisure trips.