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World's airlines on pace to pocket record $39 billion in profits

World's airlines on pace to pocket record $39 billion in profits

Noted investor Warren Buffett once warned that investing in airlines was “a death trap.”

He may be rethinking his view on the airline industry now that the trade group for the world’s carriers has predicted that the industry will pocket a record $39.4 billion this year.

Alexandre de Juniac, director-general of the International Air Transport Assn., told a gathering in Singapore pn Thursday that the $39.4 billion in net profit for 2016 represents the second year in a row that the industry will generate a return on investment higher than 9%.

“It seems that we are living in extraordinary financial times,” he...

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