The International Air Transport Association (IATA) announced an outlook for improved industry profitability in its Economic Performance of the Air Transport Industry report. Airlines are expected to post a collective global net profit in 2014 of some US$19.9 billion (up from the US$18.0 billion projected in June). This looks set to rise to US$25.0 billion in 2015. Lower oil prices and stronger worldwide GDP growth are the main drivers behind the improved profitability. Consumers will … [Read more...] about IATA: Tonnage up but rates to shrink in 2015