Airlines in North America generate almost half of airline revenue across the globe and the largest net profit with $15.6 billion this year. Demand to and from North America fell in year-on-year terms for the seventh consecutive month in September (the most recent month for which route-specific figures are available) and it remains the only worldwide market not to have grown in annual terms this year.
De Juniac points out that airlines still face cost challenges in rising fuel prices, labor and infrastructure expenses.
While there will be growth in passenger and cargo demand, Iata's chief economist Brian Pearce warned that intense competition will continue to put pressure on passenger yields.
Cargo is also forecast to continue its recovery, with growth of 4.5 percent expected over this year's total - 62.5 million tonnes against 2017's 59.9 million tonnes. The benefits of aviation are compelling-2.7 million direct jobs and critical support for 3.5 per cent of global economic activity.
In response to the tougher conditions regional carriers have cut costs and unprofitable routes, with Dubai carrier Emirates reporting a 111 per cent increase in profit to $214m in the April 1 to September 30 period after a 75 per cent slump in the first half of its previous fiscal year. Turning to environmental concerns, IATA, which said the inflation-adjusted cost of flying had halved for consumers since 1996, said aviation was committed to managing its carbon footprint with a near-term goal of capping emissions through carbon-neutral growth from 2020.
Latest on the tax bill: GOP making major changes
Amid a whirl of meetings and dramatic votes Thursday evening, the Senate GOP leaders were rewriting the bill behind closed doors. Senate Finance Committee Chairman Orrin Hatch , R-Utah, on Friday said he believes Republicans have the votes to pass the bill.
Kansas City Chiefs 7, Je
In a major surprise, middle linebacker Darron Lee was listed as one of the Jets' inactives for today's game against the Chiefs. The Jets were forced to kick a field goal from the 7-yard line after Bilal Powell was dropped short of the end zone.
Amazon Australia launched this morning
Small businesses selling on Amazon Marketplace globally have employed more than 600,000 people to support their Amazon activity. Amazon has said that "customers can enjoy free delivery on eligible orders above $49 that are sold by Amazon ".
Fisher resigns after eight seasons
Last December, Fisher signed a contract extension through 2024 that makes him among the highest-paid coaches in the country. According to Billy Liucci of TexAgs.com , Fisher is expected to be introduced as the new Aggies head coach on Monday.
Syria Intercepts Israeli Missile Attack Near Damascus
Iran-backed Shiite militias, including Hezbollah , have helped Damascus regain control of swathes of the country. However, other sources allege that strikes were aimed at an Iranian military said to be located near Kiswah.
Supermoon photos: See awesome shots of 2017 lunar spectacle
However, 2018 will delight skywatchers with two supermoons, one on January 2nd and another just a few weeks later on January 31st. A year ago the moon made its closest approach to the Earth since 1948, and it won't be this close again until November 25, 2034.