IATA raises airline profit forecasts

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Geneva - Global airline profits will total $12.9 billion in 2013 and a record $19.7 billion next year due to lower jet fuel costs and improved efficiency, the International Air Transport Association (IATA) said on Thursday.

The widely-watched forecasts are higher than IATA had expected in its last update in September, when it predicted profits of $11.7 billion for 2013 and $16.4 billion in 2014.

However, cargo demand remains stagnant, IATA said.

“2013 will see passenger numbers top 3 billion for the first time, increasing to 3.3 billion in 2014,” IATA Director General Tony Tyler told a news conference. - Reuters

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