According to the International Air Transport Association (IATA), the airline industry worldwide will increase their profits to over nearly USD $3 billion, which is a significant increase.
This powerful growth is the result of increase in demand. Most of that improvement comes from the Asia-Pacific and North American regions.
IATA’s Director General, Giovanni Bisignani, said that the global economy is recovering much more quickly than anticipated. Mr. Bisignani spoke at the IATA Annual General Meeting in Berlin, Germany recently.
Industry revenue (sales) is expected to rise to $545 billion this year, up from USD $480+ last year.
Passenger airline traffic is expect to increase over 7% in 2010. Cargo traffic is anticipated to rise nearlly 19% this year. Traffic figures were down in April, due to the Iceland volcano, but May figures show air travel bouncing right back and continuing to grow.
Latin American airlines are now expected to show a USD $900 million profit this year, up from USD $500 profit last year. Middle East airlines anticipate a USD $100 million profit, and profits for African carriers is also estimated to be USD $100 million, as compared to a loss in 2009.
What is the significance of this to you — someone who wants to be a pilot and fly for an airline? When airlines grow, they need more pilots; it’s that simple. The tough question is are YOU ready? Have you started learning to fly? Do you have your Commercial Pilot License? If you answered “no” to these questions, but are ready to start, contact Phoenix East Aviation today at www.pea.com. All your questions will be answered by a knowledgeable admissions officer.