16-Nov-2012 10:27 AM

IATA urges Latin America and Caribbean region to improve safety and efficiency

IATA urged (15-Nov-2012) stakeholders in the Latin American and Caribbean region to be a safer and more efficient air transport industry. IATA’s director general and CEO Tony Tyler said, “Latin America is a good news story. Aviation supports more than 4.6 million jobs and USD107 billion in GDP across the region. Latin American carriers are expected to post a collective profit of some USD400 million this year. That’s USD100 million better than in 2011. The expected EBIT margin of 2.7% would be the second strongest in the industry behind North America at 3.0%. And the demand for connectivity across the region is growing. Passenger traffic was up 10.1% over the first nine months of the year—the second highest growth rate after Middle East carriers at 16.6%. The region is showing great promise. But it also faces challenges.” [more - original PR]