Airlines are bracing for their worst year since 2014 due to high fuel prices, an international trade war, and the 737 Max grounding
The aviation industry expects to earn $28 billion in profit this year, according to a forecast released Sunday by the International Air Transport Association, a global trade group representing 290 airlines. That income outlook is 21% lower than the association's previous 2019 forecast, which it issued in December. It would be the lowest profit the industry has recorded in five years.
IATA expects that growth in cargo demand will slow substantially. Growth in passenger demand for air travel will slow a bit too, although far less dramatically than cargo. "There is no easy money to be made," said Alexandre de Juniac, IATA's CEO, in a statement.Boeing desperately needs to get the 737 Max back in the air.
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