$29.3B profit for airlines in 2015: IATA

The International Air Transport Association (IATA) is anticipating a net profit of $29.3 billion for the global airline industry this year, forecasting a major increase in profitability from 2014.

According to IATA, the significant strengthening from the $16.4 billion net profit in 2014 is attributable to several global factors, including stronger economic prospects, record load factors, lower fuel prices, and a major appreciation of the U.S. dollar.

Of the total projected figure for 2015, North American carriers are expected to generate $15.7 billion in profits. While an improvement in profits is anticipated for all global regions, IATA is anticipating stark differences between economies, with North America at the high end compared to profits of $100 million for the African airline industry.