The operating profits of the world's airlines are rising rapidly, helped by better than expected traffic volumes and careful control of capacity, according to the latest forecasts by the International Air Transport Association.

但美国信用评级机构标准普尔(Standard & Poor's)的一份报告指出，由于美国航空业财政状况仍很糟糕，加之美国限制外资控股本国航空公司，有可能阻碍欧美航空业之间的整合。 However, a report by Standard & Poor's, the US credit rating agency, said the still poor financial health of the US airline industry, coupled with US limits on foreign ownership of airlines, was likely to hinder any consolidation¹ of the aviation industry between Europe and the US.

不过，美国与欧盟(EU)最近签署的"开放天空"协议，预计将为欧洲航空业亟需进行的重组行动提供支持。

The recently approved US/European Union "open skies" deal was, however, expected to provide support for a much-needed restructuring of the European airline industry.

国际航空运输协会昨日表示，据估计，去年全球航空业运营利润已从2005年的43亿美元猛增至130亿美元（不包括美国航空业重组成本）。

Iata said yesterday that operating profits of the global airline industry were estimated to have jumped from $4.3bn in 2005 to $13bn (€9.7bn, ￡6.6bn) last year (excluding US restructuring costs).

该协会预计，今年这一数字将不会出现大的变化，可能为139亿美元，但它预测，受美国和全球其它国家经济增长持续走强的支撑，2008年该项利润将大幅增长至199亿美元。

It foresaw little change this year, with operating profits of $13.9bn, but forecast a big jump to profits of $19.9bn in 2008, supported by strengthening economic growth in the US and worldwide.

国际航空运输协会首席经济学家布赖恩o皮尔斯(Brian Pearce)表示，波音(Boeing)和空客(Airbus)交付的新飞机数量强劲上升，导致运能增加，但航空公司为应对油价高企，淘汰机型较老、耗油量较大的飞机，使这一增幅有所放缓。

Brian Pearce, Iata chief economist², said the increase in capacity with the strong rise in deliveries of new aircraft by Boeing and Airbus was being moderated by airlines taking older, less fuel-efficient aircraft out of service as they sought to deal with high oil prices.


国际航空运输协会预计，按照计入重组和利息成本的净利润来衡量，2007年全球航空业将实现自2000年以来的首次扭亏为盈，结束持续6年的亏损局面。

At a net level including restructuring and interest costs, the airline industry is forecast by Iata to return to profit in 2007 for the first time since 2000, ending six successive years of losses.

国际航空运输协会日前将航空业2007年净利润预测，从去年12月份预计的25亿美元，上调至38亿美元，而2006年全球航空业净亏损5亿美元。该协会预计，明年航空业净利润将增长一倍至76亿美元。尽管美国经济放缓，同时油价反弹至每桶60美元以上，但该协会仍然上调了今年的净利润预测。

Iata raised its forecast for 2007 net profits to $3.8bn from December's forecast of $2.5bn, up from a net loss of $500m in 2006. It forecast a doubling in net profits next year to $7.6bn. The higher net profit forecast for this year has come despite the slowdown in the US economy and the rise in oil prices back above $60 a barrel.

预计欧洲航空业将一马当先，2007年其净利润将达到24亿美元，而亚太地区航空业的净利润为17亿美元，北美航空业仍陷亏损，其净亏损达6亿美元。北美两家领先的航空运营商--达美航空(Delta³ Air Lines)和西北航空(Northwest Airlines)仍未结束破产重组工作。

The European industry is forecast to lead the way, with net profits of $2.4bn in 2007 compared with profits of $1.7bn in Asia-Pacific and a remaining net loss of $600m in North America, where two leading carriers, Delta Air Lines and Northwest Airlines, are yet to emerge from Chapter 11 bankruptcy⁴ restructuring.

如果不计入重组成本，预计北美航空业的净利润总计将达44亿美元。

Excluding restructuring costs, net profits in North America are forecast to total $4.4bn.

国际航空运输协会警告称，航空公司的资产负债情况仍然"较为脆弱"。尽管过去3年航空公司的收入猛增，但燃料成本居高不下，使它们无法从中积累现金，而航空运营商仍然容易受到过去6年来遭受的那类外部冲击的影响。

Iata warned that airline balance sheets remained "fragile". High fuel costs had prevented any accumulation of cash from the revenue boom of the past three years and carriers remained vulnerable to the sort of external shocks suffered during the past six years.

2001年至2006年，全球航空业累计净亏损421亿美元。

The global airline industry has suffered cumulative⁵ net losses of $42.1bn from 2001 to 2006.

过去3年来，航空业已从经济疲弱、恐怖主义、伊拉克战争以及非典(Sars)疫情等一连串危机中恢复过来，在2004年其运营实现扭亏为盈。不过，受重组成本和高负债水平的拖累，直到今年为止全球航空业仍处于净亏损状态，特别是美国航空业。

In the past three years, it has recovered from the overlapping⁶ crises posed by economic weakness, terrorism, the war in Iraq and the Sars (severe acute respiratory syndrome) outbreak, and returned to operating profitability in 2004. It has remained in net loss until this year, however, under the burden of restructuring costs and high debt levels, particularly in the US airline industry.