Crude Oil prices dipped to less than $40 a barrel, the lowest in the last seven years.
Owing to the low oil prices and healthy demand for travel, airline profits will boost again in 2016, the International Air Transport Association said on Thursday.
IATA, which represents almost 260 airlines accounting for 83 percent of global air traffic, said net profits would reach record levels of $36.3 billion in 2016 after $33 billion in 2015.
Demand for travel has been booming in 2015, thanks to improving economies and lower fuel helping to boost spending, especially on leisure trips. The Geneva-based association had previously forecast airline profits of $29.3 billion in 2015.
We should enjoy the benign trading conditions while they last but it would be a mistake to start to get used to themTony Tyler, Director General, IATA
These industry profits were still best described as fragile rather than sustainable.
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