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Airlines: 2013 profits to rise thanks to cost cuts


February 19. 2013 9:55PM
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(AP) The aviation industry says the sector's global earnings will likely rise to $8.4 billion in 2013, reflecting cost cuts and restructuring measures airlines have taken to compensate for stalling world economic growth.


The industry's trade group said Thursday that it anticipates net profits of $6.7 billion for 2012 based on strong second and third quarters particularly for larger carriers with bigger economies of scale despite high fuel prices and softer demand.


But the 2013 results would be down from $8.8 billion in profits earned in 2011 and $15.8 billion in 2010. The 1 percent net profit margin would also be well below the 7 to 8 percent officials say is needed to recover capital costs.


Associated Press


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