As oil prices continue to skyrocket, airlines across the globe are expecting lean profits in 2013. The International Air Transport Association (Iata), the global trade association for some 240 airlines, is predicting a combined profit of only $10.6 billion this year. “That sounds like a lot. But it is on expected revenues of $671 billion, so it is a net profit margin of just 1.6%,” the association’s CEO Tony Tyler told the Cape Town Press Club recently. “And this is a relatively good year.”
