AIRLINES in emerging markets will lead a global rebound in air traffic, as commercial carriers worldwide see collective losses halve this year, according to an airline trade body.
The International Air Transport Association (IATA) said forecasted losses for 2010 will reach $2.8bn (£1.86bn), marking an increase from 2009 profit losses of $5.6bn.
IATA said the improvements would be driven by a rise in passenger demands in the emerging economies, specifically Asia-Pacific and Latin America. Demands for Asian carriers will grow by 12 per cent during 2010 putting it on par with predicted demands for Latin American carriers, said IATA.
But it warned that airlines in Europe and North America were lagging behind in demand and are expected to see a respective growth of 4.2 per cent and 6.2 per cent for the year.
These figures come as Wolfgang Mayrhuber, chief executive of German based airliner Lufthansa said he anticipates growth, vouching the airline will improve earnings to €1bn a year from 2011 on its passenger numbers alone. He plans to double passenger headcount by 2030.