A year that began with airlines mired in the worst recession in at least 30 years ended on an upbeat note and the momentum has carried into 2010. But watch out for volcanoes.
The world airline industry has been to hell and backin a remarkably short period of time. From record losses of $16 billion in 2008 followed by $9.9 billion in red ink in 2009, carriers are projected to earn $2.5 billion in 2010, according to IATA’s most recent financial forecast presented at last month’s AGM in Berlin (see tables, p. 28). If achieved, this will represent an $18.5 billion profit rebound over two years after a negative swing of $28.9 billion between 2007 and ...
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