The International Air Transport Association (IATA) expects airlines to report stronger-than-expected profits of US$15.1 billion this year. Pushing the indusry forward is Asia, where travel is expected to grow strongly.
According to the association, Air China’s market value is now twice that of Delta in the US or Germany’s Lufthansa.
IATA chief executive Giovanni Bisignani said, "The world is changing in aviation, and it’s changing very, very quickly. Rapidly developing markets are shifting the industry’s center of gravity to the East."
Air China has a market capitalization of US$20 billion, Singapore Airlines US$14 billion, Cathay Pacific US$12 billion and China Southern US$11 billion. Delta and Lufthansa follow with market caps of US$10 billion each.
Journalgazette.net reports IATA as saying traffic across Asia outstripped that of North America for the first time in 2009.