Collectively, airlines in Asia are expected to deliver a net profit of US$6 billion (Bt188.72 billion) in 2019, down from US$7.7 billion in 2018. Speaking at the opening of the association’s 75th Annual General Meeting, Iata chief executive and director-general Alexandre de Juniac said that the current challenges have led to a cut in profit forecast. Instead of a global collective profit of $35.5 billion (forecast in December), airlines are now expected to make $28 billion in 2019. Weakening of global trade is likely to continue as the US-China trade war intensifies.”While this primarily impacts the cargo business, passenger traffic could also be impacted as tensions rise, he warned. “Airlines will still turn a profit this year, but there is no easy money to be made,” he stressed.

Source: The Nation Bangkok June 02, 2019 18:00 UTC