IATA boosts forecast; McCormick joins CALC

IATA projections have always been wildly amended but a 42%+ revision is exceptional even for IATA. The industry association has boosted its forecasted 2015 collective net profit for the world’s airlines to $29.3 billion, up 47.2% over a net profit of $19.9 billion projected in December 2014. “For the first time in our history, the airline industry as a whole will earn its cost of capital,” IATA DG and CEO Tony Tyler stated. North American airlines are expected to account for more than half of the global industry’s 2015 net profit, earning $15.7 billion while making $18.12 per passenger, according