IATA halves profit forecast for 2011; 78% weaker than 2010
IATA more than halved its forecast for airline industry net profits in 2011 to USD4 billion, with passenger and cargo demand seen to be weaker than previous estimates announced in Mar-2011. IATA cited the impact of high fuel costs, unrest in the Middle East and the impact of Japan's 11-Mar-2011 earthquake and tsunami for the 54% reduction in its outlook from the USD8.6 billion profit forecast in Mar-2011.
