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Airlines Return to Profits

Forty-seven of the world's major air carriers are reporting profits in the second quarter of 2010

The Delta Air Lines A330 Airbus flight 273 taxis past the general aviation terminal at the Bangor International Airport, Wednesday, April 28, 2010, in Bangor, Maine. The flight continued on to Atlanta after spending the night in Bangor. The flight was diverted to Maine on Tuesday after a passenger aroused attention with a note claiming he had a fake passport before telling federal air marshals he had dynamite in his boots and in his laptop computer. (AP Photo/Michael C. York)

(AP) — The International Air Transport Association says 47 major carriers it monitors to assess the industry's financial health reported a net profit of $3.9 billion in the second quarter.

The results contrast with the $881 million net loss posted by carriers a year earlier.

IATA says airlines in North America and the Asia-Pacific region performed best.

The Geneva-based association says European carriers' results were boosted by a $1.3 billion asset sale in the second quarter, without which they would have posted further losses.

IATA said Monday that airlines benefited from stable fuel prices and slowly improving demand over the past months.

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