US leads the way in global airline performance
The airline industry will post record net income of $29.3 billion this year, spurred by a rejuvenated US aviation market the International Air Transport Association says.
This is a near 80% jump from 2014, with North American carriers likely contributing $15.7 billion of the total.
Improved demand and airlines keeping a lid on capacity growth will translate to record seat occupancy of 80.2%.
However IATA director general Tony Tyler has urged airline investors to "keep things in perspective."
Speaking at the IATA annual meeting in Miami, Tyler said: "The industry’s fortunes are far from uniform. It is important for our stakeholders, particularly governments, to understand that the business of providing global connectivity is still a very tough one."
Tyler underscored this highlighting the still uncertain market in Europe and Asia where airlines are "still struggling with returns below the cost of capital and a significant debt."
The forecast for European carriers is a net income of just $5.8 billion.
Unsurprisingly, the Gulf region was the only one to post double-digit growth.
Led by Emirates, Qatar Airways and Etihad Airways, Middle Eastern airlines should generate net income of $1.8 billion, supported by a 13% jump in passenger growth.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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