BREAKING NEWS

IATA trims airline industry net profit view, sees rebound in 2019

IATA trims airline industry net profit view, sees rebound in 2019
FILE PHOTO: The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch -
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FABRIZIO BENSCH(Reuters)
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GENEVA (Reuters) – Global airlines will see profit growth resume next year as strong demand offsets cost pressures that trimmed profitability in 2018, the International Air Transport Association (IATA) said on Wednesday.

Industry profits are expected to rise to $35.5 billion (28.3 billion pounds) in 2019 from $32.3 billion in 2018, IATA said.

IATA previously forecast 2018 profits at $33.8 billion.

“The aviation industry is on a more solid financial footing than at any time in its history,” IATA director general and CEO Alexandre de Juniac said.

(Reporting by Tom Miles; editing by Jason Neely)

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