FORT WORTH, Texas, Dec. 28 (UPI) -- Major U.S. airlines are expected to be profitable next year, industry analysts say.
Experts say just how profitable will depend on, among other factors, the price of oil, the Fort Worth (Texas) Star-Telegram reported Sunday.
"It's no secret that the big question is what's going to happen with the economy," said Dan Garton, executive vice president of marketing for American Airlines. "Nobody knows for sure, and the industry's health is very closely tied to the economy."
Even in the nation's economic downturn, analysts say the airline industry will likely turn a profit in 2009.
The International Air Transport Association says it expects a $300 million profit for North American carriers.
"North America will be the only region in the black, but the expected profit is less than 1 percent of their revenue," said Giovanni Bisignani, the group's director general and chief executive, adding 2009 "will be another tough year for everyone."
Travel analyst Terry Trippler of Tripplersview.com said 2009 is going to be a "very, very interesting year" for domestic airlines.
For its part, American Airlines is hoping to receive approval for its alliance with British Airways, which would allow it to coordinate scheduling and marketing for trans-Atlantic flights.
Southwest Airlines, meanwhile, plans to begin flying into New York City, and will work to build the first North American low-fare alliance with the Canadian carrier WestJet and Mexican airline Volaris.
