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Sunday, August 19, 2018 - 23:19ET

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IATA Increases Airline Profit Forecast For 2018

top story photo The International Air Transport Association (IATA) has increased its forecast for the global airline industry's net profit in 2018 to $38.4 billion. The new forecast is revised from IATA's $31.4 billion forecast issued in June.

Factors responsible for the improved financial forecast include an expected increase in passenger numbers and cargo volume, with an overall increase in net revenues, IATA said.

In other news, IATA reported that global passenger traffic rose 7.2 percent in October compared with the same month in 2016, while global cargo volume rose 5.9 percent.

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