Tag Archives: iata

IATA Raises Airline Industry Profit Forecast

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Global airlines should post an industry profit of USD$12.7 billion this year, an increase from a previous USD$10.6 billion forecast, as lower oil prices and belt-tightening offset difficult economic conditions, industry group IATA said on Monday.

However, the International Air Transport Association said margins remained weak amid Europe’s ongoing debt crisis.

“The day-to-day challenges of keeping revenues ahead of costs remain monumental,” IATA director general Tony Tyler said at a meeting of more than 200 airlines in Cape Town.

“On average, airlines will earn about USD$4 for every passenger, which is less than the cost of a sandwich in most places,” he told Reuters Television.

Addressing reporters later, Tyler said record passenger numbers and growth in “ancillary” revenues were the two key reasons driving improved profitability.

Airlines are expected to fill 80.3 percent of seats and transport an unprecedented 3.13 billion passengers in 2013, up from 79.2 percent and 2.98 billion respectively last year, as operational changes and better capacity management filter through.

Tyler said ancillary revenues would rise to USD$36 billion, or 5 percent of total turnover, as airlines unbundle more services from base fares and charge for additional services such as meals, extra baggage and seats.

“These are significant factors that are driving performance,” Tyler said.

(Reuters)

Accident rate on most passenger planes falls to record low

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Flying has become safer than ever for most western travellers, with figures showing that 2012 had the lowest accident rate on record for typical passenger planes.

The International Air Transport Association (Iata) has confirmed that last year’s global accident rate for western-built passenger jets was the lowest in aviation history, with just three fatal crashes on such planes – and none among any of its 240 members, who represent virtually all of the major airlines.

Globally, the crash rate for modern aircraft – defined by Iata as hull losses per million flights of western-built jets – was one accident every 5m flights.

There were six crashes and 75 accidents overall on all aircraft types worldwide, as flying accounted for 414 deaths, compared to 486 from 92 accidents in 2011, from a total of almost 3 billion passengers.

Flying in sub-Saharan Africa, however, remains considerably more of a risk – and the accident rate is worsening. A passenger on a western-built jet in Africa was roughly 10 times more likely to see the plane crash in 2012 than in Latin America, the next most dangerous region.

Iata’s director general, Tony Tyler, said: “The industry’s 2012 record safety performance was the best in history. Each day approximately 100,000 flights arrive safely at their destination. Nevertheless, there is still work to do. Every accident is one too many and each fatality is a human tragedy.”

Planes coming off the runway are the most common type of accident, accounting for 28% of all incidents. Pilots losing control in flight have caused the most fatalities in the past four years.

guardian.co.uk