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Article: IATA sees brighter picture.(AIR TRANSPORT BRIEFING)(International Air Transport Association )
- Article from:
- Interavia Business & Technology
- Article date:
- September 22, 2006
CopyrightCOPYRIGHT 2006 Aerospace Media Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The International Air Transport Association has announced a revised forecast for 2006 industry losses. It is estimated that airlines will lose US$1.7 billion, with a fuel bill of US$115 billion calculated for an average oil price of US$68 per barrel (Brent).
This is a significant improvement on the previous loss forecast of US$3.0 billion made in June that was based on an oil price of US$66 per barrel for a total fuel bill of US$112 billion. However, stronger than anticipated economic growth has boosted airline revenues, and restructuring efforts have elevated load factors to record levels.
Airlines ended 2005 with a US$3.2 billion loss including a fuel ...