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By Market News Video Staff, Tuesday, September 20, 1:26 PM ET
Airline stocks are trading higher today after an industry group raised its full-year profit expectations for the sector.
The International Air Transport Association said it now sees full-year industry-wide profits of $6.9 billion, up from a June forecast of $4 billion.
The IATA noted that despite the improvement, profitability is still “exceptionally weak,” at a margin of just 1.2%.
The group also said that 2012 profits will be even more difficult, and it is currently projecting $4.9 billion in annual profits in 2012.
The Guggenheim Airline ETF (FAA) is trading down about 0.10% Tuesday. Southwest Airlines (NYSE:LUV) is trading up .1%, while United Continental (NYSE:UAL) trades up .14%.
The Airline Shares (FLYX) ETF is trading down 1.75%.
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Daily Wrap: May 10, 2013
Daily Dividend Report: CRI, WM, CHRW, NVDA, CBI
Daily Dividend Report: MAR, LEG, ORI, OFC, RNDY
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Daily Wrap: May 9, 2013