| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Airlines raise 2013 profit outlook

Email Newsletters

Sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

DRI $48.74 +$0.08

at close on TUESDAY

By The Associated Press
Thursday, March 21, 2013, 12:01 a.m.

The global airline industry has forecast a modest improvement in global net profits for 2013, crediting a backdrop of rising optimism about the world's economy — particularly in the United States and Europe.

The International Air Transport Association, whose 240 member airlines carry 84 percent of all passengers and cargo, upgraded its financial outlook Wednesday to expected profits of $10.6 billion this year, mainly based on more passengers and cargo handled.

IATA said the industry's overall revenue in 2013 is expected to rise to $671 billion from $637 billion last year, while costs will go up to $649 billion from $623 billion.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Stocks finish weak before Thanksgiving holiday; energy firms give back some gains
  2. Union leaders warn Post-Gazette newsroom of possible layoffs
  3. Covestro leader MacCleary finds stability amid change
  4. Black Friday loosens its hold on the holiday season
  5. Pa. PUC looks to update safety rules for electric utilities
  6. Mall stores required to open for Thanksgiving
  7. Feds upgrade GDP’s growth
  8. Improving economy challenges retailers seeking to boost ranks for holidays
  9. ‘Word people’ could start careers as court reporters, medical scribes
  10. GNC suspends sales of products made by indicted company
  11. Pfizer acquires Allergan in $160B deal