Airline industry scales back profit outlook

New forecast: Delta employees help sort out luggage at Atlanta’s Hartsfield-Jackson International Airport in Atlanta, Georgia. The airline slashed its first quarter profit guidance in March amid a downward revision for the global industry. — Reuters

NEW YORK: The global airline industry stands to earn a collective US$36bil this year, a downward revision from the most recent prediction issued in December amid growing trade tensions and a drop in consumer confidence, the leading aviation association says.

The new forecast aligns with the US$ 36.6bil profit target issued for 2025 at the end of last year, the International Air Transport Association (IATA) said in a statement yesterday.