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Airline industry to enjoy tenth year of profits in 2019 - IATA

Wed, 12th Dec 2018 09:46

(Sharecast News) - The airline industry will see profits take off for the tenth year in a row in 2019, according to the International Air Transport Association, as oil prices soften and the global economy expands.IATA is forecasting a net profit for the airline industry of $35.5bn in 2019, slightly ahead of the $32.3bn profit predicted for 2018, with revenues reaching $885bn against 2018's $821bn.Passenger numbers are expected to reach 4.59bn, up from 4.34 this year, with cargo tonnes carried forecast to increase from 63.7m to 65.9m.The Geneva-based trade body said: "Lower oil prices and solid, albeit slower, economic growth [of] 3.1% are extending the run of profits for the global airline industry, after profitability was squeezed by rising costs in 2018. It is expected that 2019 will be the tenth year of profit and the fifth consecutive year where airlines deliver a return on capital that exceeds the industry's cost of capital."However, IATA has also predicted slower demand growth for passenger traffic - up 6% in 2019 against 6.5% in 2018 - and for cargo, which it believes will increase by 3.7% in 2019 compared to a 4.1% rise in the current year.Alexandre de Juniac, IATA's director general and chief executive, said: "We had expected that rising costs would weaken profitability in 2019. But the sharp fall in oil prices and solid GDP growth projections have provided a buffer. So we are cautiously optimistic that the run of a solid value creation for investors will continue for at least another year."But there are downside risks, as the economic and political environments remain volatile."Oil prices surged in 2018 to highs of around $86 a barrel. However, in recent months they have fallen back on expectations Opec will cut production. To date the oil cartel has failed to reach agreement on the proposed reduction, but the price of crude has continued to fall and is now trading around $60.The International Monetary Fund has predicated the world economy will continue to grow in 2019, but risks such as the ongoing trade war between China and the US remain.
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28 Jan 2019 08:33

TOP NEWS: Flybe Confirms Shareholder's Plan To Remove Chair Laffin

LONDON (Alliance News) - Flybe Group PLC on Monday confirmed a shareholder is trying to oust Chair Simon Laffin amid the company's takeover.Flybe made the statement in response to a by

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24 Jan 2019 10:40

Flybe moves to reasure investors as legal action looms

(Sharecast News) - Troubled UK domestic airline Flybe on Thursday sought to reassure investors as it said it had already received the first £10m of funding as part of its buyout by the Connect Airways consortium as one investors reportedly threatened to block the deal.

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24 Jan 2019 10:38

WINNERS & LOSERS SUMMARY: St James's Place Gains After Resilient 2018

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------St up The

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24 Jan 2019 09:40

Flybe Takeover Consortium Hands Over First GBP10 Million Bridge Loan

LONDON (Alliance News) - Flybe Group PLC said Thursday the consortium which is in the process of acquiring the troubled budget airline has extended the first GBP10 million of its credit facility -

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21 Jan 2019 16:55

LONDON MARKET CLOSE: FTSE Finishes Flat Amid Global Growth Worries

LONDON (Alliance News) - The FTSE 100 fluctuated between red and green on Monday, ending the session broadly flat with volatility low as the US sat out the start of the week for Martin Luther King

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21 Jan 2019 12:06

LONDON MARKET MIDDAY: FTSE Overcomes Weak China Data To Edge Higher

LONDON (Alliance News) - Stocks in London were mixed at midday on Monday, with the FTSE 100 tentatively higher as a weak pound helped the index to rise off morning lows after weak economic data in

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21 Jan 2019 10:44

WINNERS & LOSERS SUMMARY: Flybe Up After Takeover Block Threat Report

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - LOSERS----------Rentokil cut

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21 Jan 2019 08:59

PRESS: Flybe's Biggest Shareholder Threatens To Block Bid - Sky

LONDON (Alliance News) - Flybe Group PLC's largest shareholder could attempt to block the sale of the company, Sky News reported on Sunday.Sky reported that in a letter to Flybe's a

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18 Jan 2019 08:37

LONDON MARKET OPEN: US-China Optimism Helps Stocks, Sophos Slumps

LONDON (Alliance News) - Stock prices in London were higher early Friday on a potentially positive development in the US-China trade war, though mid-cap IT company Sophos had a to

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15 Jan 2019 10:58

Flybe To Sell Main Trading Unit To Connect Airways, Gets Revised Loan

LONDON (Alliance News) - Flybe Group PLC on Tuesday said it has agreed a revised bridge loan with Connect Airways Ltd shareholders and will sell its main trading company and online business for to

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15 Jan 2019 10:05

Virgin-Stobart consortium lifts Flybe offer; revises loan deal

(Sharecast News) - Troubled UK airline Flybe on Tuesday said it had reached an agreement to sell its main trading company and digital operation to a Virgin-led consortium for an increased £2.8m.

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14 Jan 2019 16:51

Former Stobart Chief Executive Tinkler Holds 12% Of Flybe (ALLISS)

LONDON (Alliance News) - Airline Flybe Group PLC on Monday said former Stobart Group Ltd Chief Executive Andrew Tinkler now has a 12% stake in the company.Tinkler's stake prior to last

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11 Jan 2019 17:18

LONDON MARKET CLOSE: FTSE 100 Slips From 7,000 As Oil Stocks Weigh

LONDON (Alliance News) - Stocks in London ended mixed on Friday, with the FTSE 100 retreating from the 7,000 mark amid a stronger pound, as a drop in heavyweight oil stocks offset gains from The a

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11 Jan 2019 12:06

LONDON MARKET MIDDAY: Housebuilders Rise As Firm Pound Hinders Gains

LONDON (Alliance News) - Stocks in London were slightly higher at midday on Friday with housebuilders in the green, as gains in the FTSE 100 were restricted by a firmer pound.Earlier sentiment was

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11 Jan 2019 10:53

WINNERS & LOSERS SUMMARY: Stobart Jumps After Agreeing Flybe Takeover

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Sage down to

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