Rising oil prices to hit air freight profitability
March 1st 2011 Transport Association downgraded its airline industry outlook for 2011 to $8.6 billion from the $9.1 billion it estimated in December 2010. This is a 46% fall in net profits compared to the $16 billion (revised from $15.1 billion) earned by the industry in 2010.
“Political unrest in the Middle East has sent oil over $100 per barrel. That is significantly higher than the $84 per barrel that was the assumption in December,” said the IATA. More articles from Handling & Storage Solutions: | 
