Canada's aerospace sector stands to get a boost from an international airlines group's improving industry outlook, with profits expected to reach US$4.1 billion this year and US$7.5 billion in 2013.
The International Air Transport Association raised its forecast for 2012 from US$3 billion, saying passenger numbers so far this year were robust.
"Airlines are keeping their heads above water better than we expected," IATA Chief Executive Tony Tyler told reporters in Berlin.
But he noted that profits this year will still be less than half the US$8.4 billion that the industry earned in 2011.
Tyler blamed Europe's economic crisis, oil prices averaging US$110 a barrel, weak cargo demand and low business confidence for the slowdown.
A profit of US$4.1 billion on industry revenues of US$636 billion equates to a margin of just 0.6%, up from 0.5% in the prior forecast, Tyler notes.
Click here to view the entire artice:
Latest from Aerospace Manufacturing and Design
- Muratec USA announces strategic Mid-Atlantic partnership with Alta Enterprises
- Blue laser scanner for CMMs
- Archer reveals plans for Miami air taxi network
- Threading tool, gage lines expanded
- #55 Lunch + Learn Podcast with KINEXON
- Boeing to build 96 AH-64E Apache helicopters for Poland
- SIDEKICK automation solution
- Ohio awards $10.2M for new defense, aerospace, tech R&D statewide
