Global aviation given clean bill of health

The global aviation industry is recovering at a considerably faster rate than previously expected due to a sharp recovery in passenger numbers and cargo. However European airlines are missing out on the recovery due to the impact of April’s volcanic eruption in Iceland and industrial disputes, IATA announced on the first day of its 2010 AGM in Berlin.

The aviation industry body said it now expects airlines around the world to post a $2.5 billion profit in 2010, compared with its previous forecast in March for a loss of $2.8 billion. It said passenger traffic is now expected to grow 7.1% this year and cargo volumes will grow by 18.5%, compared with its previous forecasts for 5.6% and 12% growth, respectively.

Source: BTN

07.06.10