Airline Association Raises Global 2012 Profit Outlook

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The International Air Transport Association (IATA) has raised its 2012 global profit outlook.

Airlines are expected to earn $4.1 billion this year, up from the $3 billion forecast in June, according to the industry group that represents about 240 airlines.

The industry earned $8.4 billion in 2011.

Regional outlooks

North American carriers are likely to post profits of $1.9 billion in 2012, up $0.5 billion from the previous forecast and also higher than the $1.3 billion the region made in 2011.

European airlines are expected to post the largest loss of any region at $1.2 billion.

For a further breakout of the 2012 outlook by international regions, go here.