Economic news

Earnings projections of leading airlines are cut

The globe’s largest airlines will suffer fall in earnings as costs of fuel and labor grow, according to the dedicated trade agency. The predicted level of earnings was reduced by 12% to $33.8 bln by the International Air Transport Association.

The association at its yearly gathering emphasized that increase in interest rates and trade disputes would curb profits too.

Nevertheless Alexandre de Juniac of the Association mentioned that earnings keep firm in the year regardless of growing costs. The sector is financially solid as 9 years of no loss activity from 2010 have demonstrated, he added.

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