Airline profits set to soar in 2019 as oil prices shrink: IATA

Shrinking oil prices and solid economic growth should boost global aviation industry profits by nearly 10 percent next year, sector federation IATA forecast on Wednesday. The International Air Transport Association said in a statement that it expected combined net profits in the industry to hit $35.5 billion (31.3 billion euros), up from $32.3 billion this year. The anticipated hike of 9.91 percent would mark the 10th consecutive year of profits for the industry, said IATA, which represents 290 airlines -- responsible for four-fifths of all airline traffic. (afp)