Global airline industry to post $28 bn profit in 2019, lower than projected last year: IATA

Global airline industry is expected to rake in a profit of USD 28 billion this year, much lower than the earlier forecast of USD 35.5 billion, IATA said Sunday, as rising fuel prices and weakening world trade are adversely impacting the business environment.

The International Air Transport Association (IATA), a grouping of around 290 airlines, also said that overall costs are expected to grow by 7.4 per cent, outpacing a 6.5 per cent rise in revenues.

Further, profit per passenger would decline to USD 6.12 in 2019 from USD 6.85 last year.

Revising down its forecast, the IATA said the global air transport industry is projected to post a profit of USD 28 billion in 2019 compared to USD 35.5 billion estimated in December 2018.

"The business environment for airlines has deteriorated with rising fuel prices and a substantial weakening of world trade," the grouping said.

According to IATA, the airlines' fuel bill is projected to rise to USD 206 billion, which will represent 25 per cent of ..