Asia Pacific airlines to be hit hard by fuel hikes
IATA has trimmed its 2011 earnings forecast for the world’s airlines by 5.5 percent to US$8.6 billion from US$9.1 billion projected in December.
It is blaming rapidly rising oil prices,
IATA estimates that airlines earned US$16 billion in 2010.
The greatest impact will be felt in the Asia/Pacific region; carriers there are now expected to post earnings of US$3.7 billion this year, down from a forecast of US$4.6 billion in December and estimated earnings of US$7.7 billion in 2010.
Middle East carriers will be little impacted by the civil unrest in the region, returning a profit of US$700 million this year, raised from the prior estimate of US$400 million.
However, IATA said this would be down from the estimated US$1.1 billion the airlines earned last year.
IATA has also announced that its AGM will be held in Singapore from June 5-7, 2011. The event was originally scheduled to be held in Cairo.
“We look forward to hosting a future AGM in Egypt when its political transition is complete,†said Giovanni Bisignani, IATA’s director general and CEO.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Overseas travelers to the United States declined by 2.5% in 2025