Rising ATF prices, weakening rupee pulling down aviation sector: IATA

Alexandre de Juniac, Director General and Chief Executive Officer, IATA, said that the rising ATF prices and weakening rupee is pulling down the aviation sector, impacting the profitability of airlines. Noting that cost environment is not very favourable for airlines in India, de Juniac said prospects for the airlines’ industry are less positive than six months ago. Global airline industry is expected to rake in a profit of $28 billion this year, much lower than the earlier forecast of $35.5 billion as rising fuel prices and weakening world trade are adversely impacting the business environment, IATA said earlier this month.

(Source: PTI)