GENEVA: Global trade tensions have sent airline profits into a descent, the industry’s trade association said Wednesday, and while profitability is expected to rebound next year it will unlikely match the level hit in 2018.
The figure is also considerably lower than the US$28 billion in net profits that Iata forecast for the industry in June, and more than a quarter less than its original 2019 forecast last December. Restructuring and cost-cutting nevertheless helped the airline industry extend its streak of profitability to 10 years, and 2019 should prove to be the bottom of the economic cycle, he added.
Demand for air travel is also expected to grow by 4.1%, down marginally from 2019, and below historical trends.“The big question for 2020 is how capacity will develop, particularly when, as expected, the grounded 737 MAX aircraft return to service and delayed deliveries arrive,” de Juniac noted.
Source: News Formal (newsformal.com)
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