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N. American airline profits grew 73 percent to USD19b
(MENAFN) North American airline earnings to grow 73 percent to reach USD19 billion in 2015, bolstered by lower jet fuel costs, local media shows, Gulf News reported.
Glenn Engel increased earnings estimates for nine U.S. and two Canadian carriers due to oil prices decrease, which is refined into jet fuel. Airlines also will benefit as lower energy costs give consumers more discretionary income they may spend on travel, he said.
Earnings that match Engel"s forecasts would extend a turnaround among U.S. carriers that racked up USD58 billion in losses from 2001 to 2009 before returning to profit in 2010.
"We continue to believe that the recent decline in jet fuel prices represents significant upside to airline EPS, if sustainable," a Morgan Stanley analyst, said Monday in a report to investors.
Glenn Engel increased earnings estimates for nine U.S. and two Canadian carriers due to oil prices decrease, which is refined into jet fuel. Airlines also will benefit as lower energy costs give consumers more discretionary income they may spend on travel, he said.
Earnings that match Engel"s forecasts would extend a turnaround among U.S. carriers that racked up USD58 billion in losses from 2001 to 2009 before returning to profit in 2010.
"We continue to believe that the recent decline in jet fuel prices represents significant upside to airline EPS, if sustainable," a Morgan Stanley analyst, said Monday in a report to investors.
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