Airline Finance News.
For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 4, 2006IATA lowers forecast 2006 loss to $1.7 billion. IATA revised its earnings forecast for 2006, lowering projected industrywide full-year losses to $1.7 billion from the $3 billion estimated in June. Sep 1, 2006
IATA noted that the North American market "has recovered significantly and is expected to return to operating profitability this year." But it said heavy restructuring costs will lead to $4.5 billion in net losses for carriers in the region. European airlines are projected to earn $1.8 billion and Asian carriers are expected to earn $1.7 billion. The association did not provide an updated outlook for airlines in Africa, Latin America and the Middle East. In June it forecast that carriers in the latter two regions will achieve breakeven results while African carriers lose $900 million. Sep 1, 2006
According to IATA worldwide passenger traffic through July 31 was up 6.4% for the year compared to 2005 and cargo traffic increased 5.3%, according to IATA. The Middle East saw the largest traffic growth at 16.4%. For July, passenger traffic was up 5.2%, with Africa posting a 13.1% gain. Only Latin America, down 4.9% for the month, experienced a decline in July. Sep 1, 2006
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| Publication: | Airguide Online |
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| Date: | Sep 4, 2006 |
| Words: | 227 |
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