IATA: Airline Financial Outlook Strengthens

$12.9 billion Global Net Profit expected in 2013

The International Air Transport Association (IATA) announced an upward revision to its industry financial outlook.

For 2013 airlines are expected to return a global net profit of $12.9 billion. Passenger numbers are expected to reach 3.1 billion in 2013 and rise by six percent to 3.3 billion in 2014.

According to IATA, the upward revision reflects lower jet fuel prices over the forecast period as well as improvements to the industry’s structure.

The association also estimated that the industry’s net profit would show an improvement of $19.7 billion in 2014, but added that cargo demand would remain largely stagnant.

IATA’s previous forecast in September saw an industry net profit of $11.7 billion in 2013 increasing to $16.4 billion in 2014.