Airlines will show earnings of $15.1 billion this year as investors choose shares of carriers in Asia, where travel is anticipated to increase dramatically, the International Air Transport Association said Tuesday.
Based on its market value, Air China is currently worth double what investors are pricing either Delta in the U.S. or Germany’s Lufthansa, shining light on the industry’s shift away from the U.S. and Europe to higher-growth countries, IATA said.
The Chief Executive of the IATA said “The world is changing in aviation and it’s changing very, very quickly. Rapidly developing markets are shifting the industry’s center of gravity to the East.”
Source: Associated Press