Airlines begin to report first profits since 9/11

[rodbarnett]

The world airline industry is expected to bounce back into profit this year for the first time since it was plunged into crisis by the September 11 attacks in 2001.

Giovanni Bisignani, director-general of the International Air Transport Association (Iata), said on Monday he expected his 271 members to make profits of between $2bn and $4bn (€3.2bn , £2.15bn) on international scheduled services due to a combination of cost cutting and passenger growth.

This compares with a loss of about $5bn last year. Overall, including domestic operations not included in Iata estimates, the industry has racked up losses of more than $30bn since 20 01.

"We are seeing a booming kind of market," Mr Bisignani said, dismissing fears that the recent outbreak of bird flu would have the same damaging effect on Asian airlines as the Sars ou tbreak did last year, unless there was evidence of it human-to-human transmission.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1075982750526

comment : how auspicious!

[Tempest]

1. And all it took was...

Cutting pilot and steward jobs, eliminating meals and selling off assets.

[Overkil]

2. Southwest Airlines never quit turning a profit.......

but they are the exception to the rule.......

http://www.hobbsherder.com/newsletter/enews-0111/gregs-tip-print.htm

http://gurusonline.tv/uk/conteudos/cohan9.asp