According to expert forecasts, these figures should even double this year to reach 29.3 billion dollars. All continents are experiencing the same upturn in traffic. However, a closer look at the results shows that airlines in the Middle East and Latin America are lagging behind. While the former are suffering from the high cost of their new infrastructures and the political tensions in the region, Latin America is affected by a mediocre economic climate. Europe shares the same problem, but the profitability of European airlines is improving despite high taxes. While Asia presents a mixed picture, with airlines weakened by increased competition in the south-east of the continent, it is North America that is now driving growth. Last year, North American airlines accounted for half the profits of IATA members. This formidable financial recovery by US carriers is the result of years of industry consolidation and cost control. In 2014, American Airlines emerged from Chapter 11 bankruptcy. Meanwhile, Delta, North America's largest carrier, posted net income of $2.8 billion, while United Airlines flirted with the $2 billion mark in profits. And 2015 looks set to be even more exceptional...
