IATA Forecasts Lower Losses In 2006 -- And A Profit For 2007 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne Unlimited-01.21.19

Airborne Unmanned-01.22.19

Airborne Unlimited-01.23.19

AMA Drone Report-01.17.19

Airborne Unlimited-01.18.19

Airborne-YouTube

Airborne Unlimited-01.21.19

Airborne Unmanned-01.22.19

Airborne Unlimited-01.23.19

AMA Drone Report-01.17.19

Airborne Unlimited-01.18.19

Thu, Mar 23, 2006

IATA Forecasts Lower Losses In 2006 -- And A Profit For 2007

Would Be First Global Airline Profit In Six Years

Hang in there, guys... because it's going to get better soon. Probably.

That's the word from the International Air Transport Association to airlines around the world, after stating it expects a larger profit in 2007 than it had previously anticipated.

The global airlines body raised its forecast for an industrywide profit -- the first in six years -- to $7.2 billion in 2007. That's up from $6.2 billion previously, IATA Chief Executive Giovanni Bisignani (right) said Wednesday.

That's also far better than the expected $2.2 billion is losses the industry is expected to have to bear in 2006. Although that figure is half of the amount IATA originally projected for 2006, it is still a less-than-rosy outlook for the rest of the year.

Most of the projected loss in 2006 comes from expected losses among US carriers of $5.4 billion, which are expected to lessened in 2007 by leaner operations. The projections also assume that crude oil costs will stay around $57 per barrel this year, and will drop to $52 per barrel for 2007.

Reuters reports Bisignani warned industry bigwigs and analysts alike against unfounded optimism over the profit projections, as expected profits would still be too small to absorb another worldwide crisis -- such as another surge in fuel costs, a terrorist attack, or a global bird flu pandemic.

"There are some wild cards beyond our control -- avian flu and security among them," Bisignani said. "If we are looking for a common villain, it is fuel."

Still... after years of weathering financial turbulence, Bisignani said any profit at all is cause to cheer -- albeit quietly.

"I believe there is a new optimism in the industry," Bisignani said.

FMI: www.iata.org

Advertisement

More News

ANN's Daily Aero-Linx (01.23.19)

Light Sport Aircraft Headquarters This website features a fairly complete listing of links to S-LSA manufacturers, along with information about flight training and LSA rules.>[...]

AMA Drone Report 01.17.19: DJI Smart Controller, UVify Swarm, Indemnis Chute

Also: Heathrow Drone Paranoia, GDU SAGA, New UK Drone Regs, State Farm Waiver DJI introduced a new remote controller for its drones at CES 2019. The Smart Controller features an ul>[...]

Airborne-Unmanned 01.15.19: New CA Regs, State Farm Waiver, Indemnis Chute

Also: Heathrow Drone Sighting, DJI Smart Remote Controller, Hydrogen Multi-Rotor UAV, Northwest UAV Marc Garneau, Minister of Transport, has announced Canada’s new rules for >[...]

Airborne-Unmanned 01.22.19: UAS Symposium Postponed, Small UAS Rule, SWAT UAV

Also: UNLV Drone Pilot Certificate, Aria Insights, GA-ASI Collaboration Team, AUVSI XCELLENCE Awards In light of a number of events and programs being curtailed due to the long-ter>[...]

Roots And Air Canada Partner To Mark International Sweatpants Day

Hands Out Free Casual Wear Aboard Air Canada's Longest International Flight Monday Iconic Canadian brands, Roots and Air Canada partnered to make a long journey even more comfy in >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2019 Web Development & Design by Pauli Systems, LC