The head of global airlines lobby IATA warned on Thursday of lower industry forecasts for 2019, triggered by increasing trade tensions and higher costs, reports Trend citing to Reuters
In December, the International Air Transport Association trimmed its 2019 global airline industry profit forecast to $35.5 billion from $38 billion, after $32.3 billion in 2018.
Alexandre de Juniac, IATA director general, suggested the industry group would trim its forecast again when it meets in Seoul next month.
“I am a bit worried and I am sorry to tell you that I think we are at a turning point,” he told a meeting of aerospace industry officials in Paris.
“The figures will be in the black but will be more difficult,” he told a meeting of Usaire, an association of U.S. and European aerospace companies.
Trade tensions are already hurting cargo demand and passenger demand is sure to be affected too, he said.