IATA increases 2015 airline industry profit forecast by 47% - and other news

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Much airline news stemming from IATA’s AGM in Miami. The biggest, perhaps, being that the industry’s collective net profit is up 47.2% on forecasts made in December. This ether means that things have gone spectacularly well for some of them – or that IATA’s forecasting is seriously off. Either way, this year’s profit is set to be $29.3bn, (on an average net profit margin of 4%). Let’s hope some of this money translates into investment in cargo.

Other news is that IATA is pressuring Venezuela to release some $3.7bn belonging to airlines. More interestingly, in the much-watched and eagerly awaited news on the US/Gulf carrier fight, Tony Tyler, IATA DG, has dismissed a suggestion by Qatar’s Akbar Al Baker that it is IATA’s job to deal with the spat as it is a protectionist issue. The diplomatic Mr Tyler argued: “Regardless of your viewpoint, IATA is not the battleground on which any resolution will be achieved. You, our members, have not given us a mandate to take a position on such issues.” And apparently AA’s CEO Doug Parker had a “nice chat” with Mr Al Baker. Oh, to have been a fly on the wall…