Airlines Expecting Record Profits for 2015 Due to Low Oil Prices

Flying could get cheaper next year as airlines say they will finally start passing on some of the savings from lower oil prices. Carriers are forecasting record profits for 2015. As a result, they expect to cut the average ticket price by 5 percent in 2015. The International Air Transport Association, which represents 240 airlines says that carriers are still stuck with contracts for fuel that pre-dates the past months' price slump. That's one reason why airlines have not cut ticket prices this year despite the fall in oil prices. In fact, as demand for flying remains strong, fares have also continued to increase. The highest growth in demand is expected in emerging markets like Asia, the Pacific region, the Middle East, Latin America and Africa.