March 20, 2013 / 9:30 AM / in 5 years

IATA raises profit outlook for world's airlines

GENEVA, March 20 (Reuters) - The world’s airlines nudged up their profit forecasts for 2013, reflecting growing confidence in the global economy and the financial performance of airlines, the International Air Transport Association said on Wednesday.

The association, which represents about 80 percent of global carriers, said it expects the $671 billion global airline industry to make a net profit of $10.6 billion this year, up from an earlier forecast of $8.4 billion, and well above the $7.6 billion achieved in 2012. (Reporting by Robert Evans, writing by Alwyn Scott, editing by Tim Hepher and Tom Miles)

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