Posted: Sep 21, 2010 6:33 AM by Bea Karnes, News First 5
Updated: Sep 21, 2010 6:34 AM
The global airline industry has rebounded faster than expected this year but faces a slowdown next year, a major airline group said Tuesday.
The International Air Transport Association said airline industry profits will likely jump this year to $8.9 billion on revenue of $560 billion, more than the group's previous forecast in June of $2.5 billion on sales of $545.
Asia will lead growth this year and Europe will remain the only region to lose money, the IATA said. Global airline profit will fall to $5.3 billion next year, the group said.