Partly of course. It is true that the demand for airline seats have picked of late but very selectively, especially in Asia and Southwest Pacific. Airlines from Asia, Latin America, North America and Middle East are expected to make profits but this profit is a peanut compared the losses the airlines have incurred in the past. However, all is not rosy. There are threats like European economic crisis and Icelandic volcano ash clouds grounding the airlines in Europe, labor problems like the strike in BA, terrorism, fast spreading diseases like bird flu, swine flu etc, safety scares like the Mangalore air tragedy and ageing aircrafts meeting accidents like in Dubai (Sudanese flight accident), high cost of jet fuel, higher taxation, environmental concerns and tightening government regulations etc.