Following a massive economic downturn from late 2008 to 2010, an ash cloud that crippled air travel across Europe and a generally depressed travel market, airlines around the world are finally getting some good news, the IATA expects they’ll make a profit this year.
The International Air Transp
ort Association said Friday it was expecting global airlines to report a $2.5 billion profit for 2010, which is a huge improvement over a few months ago when it said the world’s airlines were likely to see a $2.5 billion loss.
ort Association said Friday it was expecting global airlines to report a $2.5 billion profit for 2010, which is a huge improvement over a few months ago when it said the world’s airlines were likely to see a $2.5 billion loss. Yet Europe’s airlines were still expected to take a hammering in the wake of a sovereign debt crisis and fears of a second downturn, the IATA said European airlines would likely see a $2.8 billion loss, which is a huge increase over estimates three months ago.
The IATA drew attention to the use of credit cards as among the problems dragging down profits worldwide, it alleges that credit card fees are often much higher than airlines realize and credit providers need to rework their relationship with global airlines.
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