Arab Today, arab today airline sector 2014 profit forecast slashed by 1bn
Last Updated : GMT 03:28:10
Arab Today, arab today
Arab Today, arab today

Airline sector 2014 profit forecast slashed by $1bn

Arab Today, arab today

Arab Today, arab today Airline sector 2014 profit forecast slashed by $1bn

Geneva - AFP

Airline body IATA on Wednesday cut its 2014 earnings forecast for the sector to $18.7 billion, after oil prices soared over the Ukraine crisis. The new figure is a decrease of $1.0 billion from the previous forecast issued in December, said the International Air Transport Association. It blamed political tensions in countries including Ukraine, saying they were expected to drive oil prices to an average $108 per barrel, or $3.50 more than expected. But the extra $3.0 billion added to the industry's fuel bill is expected to be largely offset by stronger demand, especially for cargo, thanks to a strengthening global economy, IATA said. And while profits are set to be dented by fuel costs, overall industry revenues look likely to rise to $745 billion, or $2.0 billion more than previously projected, it said. As a result, this is a "tweak and the overall forecast is still very aligned to our December thinking," said IATA chief Tony Tyler. If the sector delivers the new earnings forecast, that would still mark the industry's  highest-ever profit, according to IATA. In 2012 airlines made $6.1 billion, while last year ended with a profit of $12.9 billion. "In general, the outlook is positive. The cyclical economic upturn is supporting a strong demand environment. And that is compensating for the challenges of higher fuel costs related to geo-political instability," Tyler said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today airline sector 2014 profit forecast slashed by 1bn Arab Today, arab today airline sector 2014 profit forecast slashed by 1bn

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today airline sector 2014 profit forecast slashed by 1bn Arab Today, arab today airline sector 2014 profit forecast slashed by 1bn

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday