IATA forecasts airline 29% industry earnings dropSeptember 20, 2011 - 13:55 AMT PanARMENIAN.Net - A global airline association is forecasting the industry's earnings to drop 29 percent next year amid weak European demand and higher costs. International Air Transport Association Chief Executive Tony Tyler told reporters Tuesday, September 20, in Singapore that the industry's earnings will likely fall to $4.9 billion in 2012 from $6.9 billion this year. Tyler said IATA expects revenue to rise to $632 billion next year from $594 billion this year while costs jump to $620 billion from $579 billion. Tyler said profits for European carriers will likely plunge to $300 million next year from $1.4 billion this year as the region's debt crisis weighs on demand for travel, the Associated Press reported.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
