News Summary: US airlines to lead recovery

News Summary: US airlines to lead industry recovery in profits in 2013

Associated Press

FLYING HIGHER: U.S. airlines will lead a recovery in the global sector's profits next year, mainly thanks to cost cuts and restructuring taken to address weak economic growth, the industry's trade group said.

IN FORMATION: Airlines in Asia, the Middle East and Latin America will also see better earnings, while those in Europe are expected to only break even as they continue to deal with the region's economic crisis.

BRIGHTER SKIES: The industry expects global profits of $8.4 billion in 2013. It anticipates $6.7 billion for this year, based on strong second and third quarters — particularly for larger carriers.

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