IATA is out with the latest numbers, and profits are on the way… up.
IATA estimates profits of £1.7bn in 2010, with an upturn from last year. This is in comparison with March when they predicted a $2.8bn loss.
Director of IATA Giovanni Bisignani said
“The global economy is recovering… much more quickly than could have been anticipated,”
“We thought that it would take at least three years to recover the $81 billion (14.3%) drop in revenues in 2009,” he added.
“But the $62bn top-line improvement this year puts us about 75% on the way to pre-crisis levels.”
The recovery is being lead by Asia, with Europe holding up the rear due to slow growth, and of course the universal get out cause – the Icelandic Volcano.
If anything IATA aren’t worried about another eruption, or the markets crashing, but the increasing price of oil
Now for air travellers, that could really be painful…
