IATA sees 2011 airline profits at 9.1 billion dollars

Airlines are expected to post 9.1 billion dollars in profit in 2011, industry association IATA forecast on Tuesday, as higher fuel prices and weakness in European markets pressure earnings.

“Next year, 2011, may see smooth upward progression being interrupted as oil and jet fuel prices rise and some economies in Europe look set to be driven back into recession by debt crises,” IATA chief economist Brian Pearce said.