Airfares expected to fall as IATA projects profits rise
The International Air Transport Association forecasts a 5.1 percent fare drop in 2015 amid lower fuel costs and rising airline profits after years of turmoil post 9/11. IATA projects global net income to hit 25 billion dollars next year, with U.S. domestic average airfare near 396 dollars in Q2.
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Economy boosts deficit drop to 56.8 billion in November
The US deficit narrowed to 56.8 billion dollars in November as a stronger economy lifted tax receipts. Treasury data show receipts up 3 percent from a year earlier, with spending still higher than revenue but well below November 2013 levels. Calendar shifts also made the drop appear larger.
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