Airline Earnings to Near $40 Billion as Oil Beats Slowing Demand
- Trade group IATA raises 2016 earnings estimate to record level
- Tyler says passenger growth will be curbed by sluggish economy
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Global airline earnings are set to be $3.1 billion higher this year than previously estimated as the impact of lower fuel costs makes up for a slowdown in passenger growth, according to the industry’s main trade group.
Net profit across the sector is likely to reach $39.4 billion in 2016, extending a record result set last year, when carriers generated collective proceeds of $35.3 billion, the International Air Transport Association said Thursday at its annual gathering of airline chief executive officers, held this year in Dublin.