Due to the rise in crude oil prices, according to Iata estimates, this year the air transport industry will see its profits drop to three billion euros, after the 7,9 recorded in 2011.
Expensive oil hurts even in heaven. According to the latest forecasts of the International Air Transport Association (Iata), this year the airline industry will see its profits plummet globally. Earnings should not exceed quota three billion euros, with a margin of 0,5%.
A real beating for the airlines, which last year alone had brought home profits more than two and a half times higher, to 7,9 billion. Responsible for the collapse is the continued increase in crude oil prices.
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