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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

Airborne Hi-Def On YouTube

Airborne 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

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 Announces Massive AEA-Live and Aero-TV Schedules for AEA16!

After 2 Decades of Innovative NewMedia Coverage, ANN Continues to Raise the Bar The crew at the Aero-News Network is eagerly anticipating yet another chance to showcase one of the >[...]

True Blue Power and Mid-Continent Instruments and Avionics Power AEA2016!

True Blue Power Announces Series of High-Powered USB Charging Ports, Powers Current and Next-Generation Electronic Devices True Blue Power today announced the TA202 Series High Pow>[...]

Airborne 04.26.16: Drone v Airplane-NOT!, eFusion Electric Plane, ANN@AEA-LIVE!!

Also: MU-2 AOA, AMA Responds To Senate FAA Reauthorization, ANN@AEA Live 04/27-0830ET, ANN@AEA Live 04/28-1400ET, ANN@AEA Live 04/29-1100ET A report of a drone possibly colliding w>[...]

L-3 Aviation Products Presents AEA2016 Special Event Coverage!!!

Innovative Avionics Powerhouse Showcases Latest Developments It's been a great year for L-3 Aviation Products. In less than six months,m they've finetuned some ground-breaking prod>[...]

Aspen Avionics, True Innovators, Present AEA2016 Special Event Coverage!

AEA2016 Sponsor: Always-Innovative Aspen Avionics Based in Albuquerque, New Mexico, Aspen Avionics specializes in bringing the most advanced display and sensor technology from the >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC