Brussels, 11/06/2010 (Agence Europe) - According to the most recent forecasts from the International Air Traffic Association (IATA), published on Monday 7 June, airlines will make overall profits of €2.07 billion in 2010, which confirms a gradual recovery in airline business activity that was hit by the financial crisis. Figures published by IATA in March, however, expected losses of up to $2.8 billion (€2.3 billion). At an international level, revenue for the industry is expected to rise this year to $545 billion (€451 billion approximately) as opposed to $483 billion (€400 billion) in 2009 and $564 (€467 billion) in 2008. Nonetheless, the data published by IATA illustrates increased disparities in the performance of transporters at a regional level, with Europe being the only region to experience a deficit. Carriers from the Asia-Pacific region (including China) are expected to obtain higher profits, of around $2.2 billion (€1.8 billion) as opposed to losses of $2.7 billion (€2.2 billion) last year. Carriers from North America are expected to achieve profits of $1.9 billion (€1.7 billion) particularly due to a sharp increase in GDP (3.3%), increased demand and domestic level mergers. African carriers, for the first time since 2002, and those of the Middle East, are expected to have revenues of up to $100 million (€82.9 million), whereas carriers from South America are also expected to experience a slight rise in their revenue compared to last year ($900 million as opposed to $500 million in 2009). As for Europe, IATA has painted a rather gloomy picture. According to the association, low economic growth (0.9% in GDP) is not enough to create a recovery, in combination with the volcanic ash crisis in mid April, which lead to lost revenue for 70% of European carriers (in total, $1.8 billion or €1.4 billion). The estimated losses, therefore, for the European airline sector are expected to reach $2.8 billion in 2010 (€2.3 billion). Nonetheless, this is a better result than last year, where lost revenue suffered by the sector was to the tune of $4.3 billion (€3.5 billion). (A.By./transl.fl)