The International Air Transport Association (IATA) expects airlines to post a global profit of $2.5 billion in 2010. This is a major improvement compared with IATA's previous forecast released in March of a $2.8 billion loss.

Industry revenues are forecast to be $545 billion in 2010. This is up from the $483 billion in 2009, but still below the $564 billion achieved in 2008.

"The global economy is recovering from the depths of the financial crisis much more quickly than could have been anticipated. Airlines are benefiting from a strong traffic rebound that is pushing the industry into the black,"said Giovanni Bisignani, IATA's director general and CEO. "We thought that it would take at least three years to recover the $81 billion (14.3%) drop in revenues in 2009. But the $62 billion top line improvement this year puts us about 75% on the way to pre-crisis levels."

Meanwhile, IATA also recently announced that passenger traffic levels in May have rebounded to pre-crisis levels. IATA announced international scheduled traffic statistics for May that showed an 11.7% increase in passenger traffic and a 34.3% jump in freight demand compared to May 2009.

"Demand rebounded strongly in May following the impact of the European volcanic ash fiasco in April. Passenger traffic is now 1% above pre-recession levels, while the freight market is 6% bigger," said Mr. Bisignani.

A capacity increase of 4.8% in May lagged behind the strong upturn in passenger demand. This pushed May's international passenger load factor to 76% (78.7% when adjusted for seasonality).  This is the sixth consecutive month with seasonally adjusted load factors near 79%.

Matching capacity to demand will become increasingly challenging in the coming months. Aircraft utilization remains 5% below pre-recession levels for single-aisle aircraft and 8% for longer-range twin-aisle aircraft. The 100 aircraft taken out of storage during May and 93 the new aircraft delivered globally add further capacity pressure.

Similarly, the strong surge in cargo traffic outstripped a capacity increase of 12.3%, pushing load factors to a record high of 55.7% (56.3% when adjusted for seasonality).

Nominated and selected by his peers, Jerry Staples, vice president of marketing and business development at the Halifax International Airport Authority, was named the 2010 winner of the Ted Bushelman Legacy Award for Creativity and Excellence during the Airports Council International-North America's (ACI-NA) Marketing and Communications Conference in San Diego.

The award, which is considered the airport industry's most prestigious honor awarded to a communications and marketing professional, recognizes exceptional values, accomplishments and creativity, and commitment to both the airport industry and their profession throughout an honoree's career. 

In presenting the award, Luce Bureau of Aéroports de Montréal, said, "Jerry has brought commitment, talent and integrity to every initiative he has worked on, exhibiting strong personal values and professionalism in all areas of his career. He has left an unforgettable impact on the region's air industry, and the airport community has benefited greatly from his innovative leadership and unique approach to marketing and communications."

As vice president of marketing and business development for the Halifax International Airport Authority (HIAA), which operates Halifax Stanfield International Airport, Staples oversees all air passenger and cargo marketing and development, lease administration and market trend analysis for the airport. Halifax is Canada's seventh busiest airport and among the busiest and highly acclaimed air transportation hubs worldwide.

Staples joined the airport staff more than 22 years ago, moving into progressively more senior roles ever since. He becomes only the third individual to receive the Ted Bushelman Legacy Award, which was first presented two years ago to the award's namesake, Bushelman, who served as senior director of communications at Cincinnati-Northern Kentucky International Airport for 40 years.

The new expansion adds 2,767 square metres to the existing terminal building and includes additional space for security screening, a secure passenger holding area that can occupy 230 passengers, an in-transit lounge, a new baggage terminal and increased office space for airport staff. 

"Air access remains a strategic priority for sustaining and growing tourism in Yukon," Minister Taylor said. "These upgrades provide a welcomed improvement to those national and international air carriers servicing Yukon today while positioning the territory for future growth in air arrivals and departures."

The expansion was funded by an $11 million investment by the Government of Yukon with a $5 million contribution from the Government of Canada through the Canada Strategic Infrastructure Fund.