International Air Transport Association

“Airlines worldwide will make profits of $2.5bn (£1.7bn) in 2010, an industry body has said.”

“In March, the airline association had predicted global losses for airline businesses of $2.8bn.”

“The bulk of the revenue turnaround is predicted to come from Asia (excluding Japan), where Iata predicts 2010 GDP growth of 7%.”

“Meanwhile, the Iata report actually revised down its 2010 forecast profits for European carriers to a loss of $2.8bn, from $2.2bn.”

“Iata says the Icelandic volcanic ash cloud has also cost airlines some $1.8bn in lost revenues.”