Airline CFOs ‘confident’ about 2013
30 / 10 / 2012
AIRLINE business confidence rose in October 2012, according to IATA’s quarterly survey of chief financial officers (CFOs) and cargo heads.
The association revealed 48 per cent of respondents expect to see an improvement in profitability over the next 12 months despite current conditions remaining challenging.
However, the carriers disclosed that profits had declined in the past three months – suggesting financial results will be down on a year ago.
The body says this was largely due a ‘resurgence in cost pressures’ during this period – instability in the Middle East and concerns over crude oil supply stocks caused fuel prices to rise again in the third quarter.
In contrast to earlier this year, freight chiefs are also more positive about yields expecting them to improve over the next year.