Global airlines expect record profits in 2014


GENEVA — The global airline industry expects its profits to jump to a record high next year, helped by falling jet fuel prices, rising travel demand, and cost-cutting.

The International Air Transport Association said Thursday it forecasts a profit of $19.7 billion — well above the $12.9 billion expected this year and the $7.4 billion made in 2012.

But the Geneva-based group, which represents 240 airlines, or 84 percent of total air traffic, noted margins are dropping. Next year’s profit would come from projected revenues of $743 billion. By contrast, 2010’s $19.2 billion profit was made on revenues of just $579 billion.