Monthly Archives: March 2011

HIGH OIL PRICES ARE INCREASING THEIR INFLUENCE ON TRAVEL

The International Air Transport Association (IATA) is predicting a significant fall of 46% in net profits to the global airline industry in 2011 over 2010, predominantly due to a predicted 20% increase in oil prices. Although capacity is expected to increase by 6% and demand by 5.7% in 2011, and despite the fact that passenger load factors were at near record levels at 77.7% in January, continuing high oil prices may stall economic growth and influence travel. Continue reading …