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twitterBrief: Record profits predicted
Thursday, Nov. 19, 1998 | 11:44 a.m.
As the fourth quarter nears a close, the nation's major air carriers are expected to post about $5.4 billion in net profits in 1998, said David Swierenga, chief economist for the Air Transport Association, an industry issue and lobbying group.
That figure is better than the record $5.2 billion airlines collectively earned in 1997, but it will likely be surpassed with an estimated $6 billion to $6.5 billion in net profits in 1999.
It's unclear what effect the trend will have on airfares, especially big-ticket business rates. Swierenga predicted that two groups will compete vigorously to divvy up the spoils: airline employees and stockholders.
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