International Air Transport Association (IATA) Director General Tony Tyler said falling fuel prices would make air travel cheaper and boost airline profits.
The International Air Transport Association (IATA) has revised its full-year forecasts for the air transport sector following a drop in global fuel prices.
IATA Director General Tony Tyler said the previous 2014 profit forecast of $18 billion had been revised down to $19,9 billion. Tyler announced that in 2015 the aviation sector will be able to make a profit about 25 billion dollars.
According to IATA experts, the profit of the passenger aviation sector in Europe in 2015 will grow from 2,7 billion to 4 billion dollars. Europe's lag behind the global profit growth is explained by high taxes in Europe.
Estimated IATA, which forecast profit growth in different regions of the world, expects the biggest growth in North America. Next year, the forecast for airline profit growth in this region is around 6%.
