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IATA reveals 2018 financial forecast

IATA reveals 2018 financial forecast”

IATA director-general and chief executive officer Alexandre de Juniac said airlines are achieving sustainable levels of profitability, but challenges remain.

According to a forecast by IATA, global industry's net profit is likely to touch $38.4 billion in 2018 from the $34.5 billion expected net profit in 2017.

The ease of doing business introduced by the Federal Government is paying off as the International Air Transport Association (IATA), the clearing house for over 280 global airlines, said business confidence levels in Nigeria near a three-year high.

"Safety performance is solid. It's still, however, a tough business, and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses".

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An Emirates Airline Boeing 777 aircraft is seen next to an Airbus A330-300 as it takes off from the Felix Houphouet-Boigny Airport in Abidjan on November 28.

The global airlines' grouping anticipates regional air transport demand to grow 7% y-o-y in 2018, while capacity is expected to rise by 6.8% y-o-y.

All regions are expected to post improved profits year-on-year in 2018 with the North American carriers leading the pack at US$16.4 billion, which is almost half of the collective bottom line.

Airlines and cargo companies also see opportunities from commercial drones, Celine Hourcade, head of cargo transformation at IATA said.

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Net profit for Europe and Asia is expected to rise to $11.5 billion and $9 billion, respectively.

That's ahead of 7.7 percent in Brazil, 6.1 percent in Russian Federation and 5.3 percent in the USA. "For Thailand, Indonesia, Myanmar, Cambodia, Laos (and) Malaysia, the airline industry's capacity growth is moderate and we should expect a more favourable earnings outlook for the airlines based in these countries", she said.

The Iata chief said the industry also faces longer-term challenges.

He said the benefits of aviation are compelling, with the industry supporting 2.7 million direct jobs and providing support for 3.5 percent of global economic activity.

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Both are expected to further increase in 2018, but at a slower pace, with an estimated 6 percent increase in passengers and 4.5 percent increase in cargo. Turning to environmental concerns, IATA, which said the inflation-adjusted cost of flying had halved for consumers since 1996, said aviation was committed to managing its carbon footprint with a near-term goal of capping emissions through carbon-neutral growth from 2020.



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