IATA expects airlines around the world to collectively post net profit of US$29.3bln in 2020 as fears of a global recession ease and oil prices stabilise.
While demand for air travel rose in May, there are signs the aviation industry faces difficult times ahead, figures from IATA show.
Virgin Australia says it expects to grow underlying profit before tax in excess of 20 per cent for first half of 2018/19.
Qantas has sounded a note of caution about rising fuel prices in the year ahead after reporting a 15 per cent increase in full year net profit for 2017/18.
The International Air Transport Association (IATA) has lowered its profit forecasts for the airline industry for 2018 amid rising fuel prices and higher costs. Airlines around the world are expected to collectively post a US$33.8 billion profit in calendar 2018, IATA director general and chief executive Alexandre de Juniac told delegates in his opening address