A sign announcing the June 4-6 meeting of the International Air Transport Association (IATA) is seen at a hotel in Cancun, Mexico June 4, 2017. REUTERS/Victor Ruiz Garcia
CANCUN, Mexico: Global airlines on Monday raised their forecast for industry profits in 2017 as the world economy looks set to post its strongest growth in six years, pushing up demand for travel.
The International Air Transport Association (IATA), which represents more than 200 carriers, said the airline industry is expected to post a US$31.4bil (RM134.4bil) profit this year, up from a previous forecast of US$29.8bil (RM127.1bil).
IATA’s forecast for 2017 industry revenues rose to US$743bil (RM3.17bil) from a previous estimate of US$736bil (RM3.16bil). - Reuters
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