Make MENAFN My Home Page
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

IATA expects airline profits to hit $18 bn in 2014  Join our daily free Newsletter

MENAFN - AFP - 02/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) The International Air Transport Association said on Monday that it expects airline companies to record combined net profits of 18 billion this year.

Revenues were forecast to reach 746 billion, IATA director general Tony Tyler said in Doha, pointing out that net margins stood to average 2.4 percent only.

"It sounds impressive. But the brutal economic reality is on revenues of 746 billion dollars we will earn an average net margin of just 2.4 percent," he said.

This amounted to less than 6 per passenger, added Tyler, who was speaking at an IATA-organised annual conference of the airline industry in the Qatari capital.

"The good news is that airline profits are improving. The average return on invested capital today i5.4 percent -- up from 1.4 percent in 2008," said Tyler.

"But we are still far from earning the 7-8 percent cost of capital that investors would expect," he added.

He said there was still huge potential for development in the sector.

IATA said in March that some 240 carriers representing 84 percent of global air traffic had revised down their profit forecast for 2014 to 18.7 billion from 19.7 billion.

Tyler said the industry was celebrating 100 years of aviation in which 3.3 billion passengers will have travelled and 52 million tonnes of cargo transported.

In total, some 50,000 destinations are linked through around 100,000 daily flights, while the industry generates more than 58 million job opportunities worldwide.

 
 


AFP




Loading, Please wait....


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help