IATA sees $2.5bn profit in 2010 and higher long-term margins

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IATA is forecasting that carrier will post a profit of $2.5 billion in 2010, the first overall surplus for three years.

Director general Giovanni Bisignani gave the figure at the IATA annual general meeting in Berlin today, and outlined long-term hopes for the industry out to 2050.

IATA says the profit forecast follows a decade in which carriers have collectively lost $47 billion.

"It is time to think big and to look beyond the cycles and shocks," says Bisignani. "Our duty is to work together to define a vision on which to build a sustainable future.

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"In just over a decade, I can see $100 billion in industry profits on revenues of $1 trillion. As we move towards 2050, this 10% margin will become even more robust."

He says the vision is "not just a crazy dream", pointing out that several IATA members have previously been able to demonstrate such margins.