|
Dayton
Business Journal...
Airline
industry to post $7 billion in
profits
Thursday, December 8, 2011
International
Air Transport
Association said in a regular forecast issued Wednesday that its
members are
heading for a $6.9 billion profit in 2011, The Triangle Business
Journal
reported. North America’s expected contribution to that was upped to $2
billion
from $1.5 billion.
The
association said airlines in North
America are likely to finish the year with a profit margin of 3.2
percent in
terms of earnings before interest and taxes.
The
association said North America’s
economy had strengthened somewhat and that its recent sluggish state
had hurt
travel demand less than expected, though it also cited the recent
Chapter 11
bankruptcy filing by American Airlines‘ parent company AMR Corp. as
evidence of
the industry’s turbulence.
IATA’s
membership includes major U.S.
carriers such American Airlines (NYSE: AMR), Delta Air Lines (NYSE:
DAL), United Airlines
(NYSE: UAL) and U.S. Airways
(NYSE: LCC). All of those carriers provide
service at Dayton International Airport.
|
