USA airlines to scoop nearly half of global profit in 2018

Global Air Freight Demand Slows

Global Air Freight Demand Slows

An estimated 4.3bn passengers will travel next year, with air cargo to rise to 62.5m tonnes. Capacity grew 6.2 per cent and load factor climbed 0.8 percentage points to 80.8 per cent, which was a record for the month.

The International Air Transport Association (IATA) has cautioned governments across the world about privatising airports to fund growth, a statement that assumes significance as India plans to upgrade and build airports through private sector participation.

Airlines are on course to increase profits again in 2018, a major industry body has said.

"Signs pointing to broad-based economic upturn continuing into 2018 is also a good news for air travel demand", he said.

All regions are expected to post improved profits year-on-year in 2018 with the North American carriers leading the pack at US$16.4 billion, which is almost half of the collective bottom line.

"The industry is reacting to that cost pressure".

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"Demand for air freight grew by 5.9% in October".

Rising ticket revenues have helped major European airlines report better than expected profits this year, and IATA said it was upgrading its net profit forecast for Europe to $9.8 billion this year, from a previous estimate of $8.6 billion, and profits should rise further to $11.5 billion next year. "More routes are being opened". "Airlines are achieving sustainable levels of profitability", added de Juniac, while highlighting the challenges of rising fuel costs and well as labour and infrastructure expenses. Meanwhile, rising labor costs are expected to account for 30.9 percent of airlines' total costs during 2018.

However, IATA said it was not concerned there was a pilot shortage after high-profile cancellations at Ryanair and American Airlines due to rostering issues and after some US airlines awarded high pay increases to pilots this year. The association expects oil prices to average $60 for a barrel of Brent Crude - a rise of 10.7%t on this year, taking oil-related costs up from 18.8% to 20.5%.

Longer-term challenges, that de Juniac blamed on governments, are global security standards, tax levels, regulation and infrastructure. Aviation is the business of freedom and a catalyst for growth and development.

After declining for six years in a row, passenger yields, a measure of ticket pricing, are also expected to rise 3 percent next year after falling 1.5 per cent in 2017.

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