World's airlines returned to operating profitability in 2004

The world's scheduled airlines in aggregate posted an operating profit last year of $3.5 billion on revenues of $374 billion, according to preliminary estimates from ICAO, which said the positive operating results--after three consecutive years of operating losses--were owing mainly to a 13% growth in traffic combined with a lesser 10% increase in capacity. However, the airlines of the 188 ICAO member states had a net loss estimated at about 1.1% of operating revenues, or $4 billion, which ...