IATA raises forecast for global airline profits

The International Air Transport Association has raised its 2011 forecast for global airline profits by 73 per cent because of stronger-than-expected demand in Europe and the Middle East.

In Dublin this morning, Ryanair shares have risen 1.4 per cent to €3.07, while Aer Lingus shares rose 3.1% to €0.68 cents.

Carriers will earn $6.9 billion of profits this year on sales of $594 billion, a margin of 1.2 per cent, the group, whose ...