Airlines profits soar
OTTAWA: The world’s airlines are expected to post a collective record $60 billion in profits this year, according to preliminary figures released by the UN aviation agency on Tuesday. Final figures will be released in July 2016. The International Civil Aviation Organisation, which represents some 1,400 commercial airlines around the world, said a 6.4 per cent increase in the number of passengers from 2014 and a 40 per cent decline in jet fuel costs contributed to the industry’s profits. There were around 3.5 billion passenger flights in 2015.