World’s airlines on record profit pace

The International Air Transport Association, the trade group for the world’s carriers, has predicted the industry will pocket a record $39.4 billion this year.

Alexandre de Juniac, director-general of the association, said in Singapore Thursday that the $39.4 billion in net profit for 2016 represents the second year in a row that the industry will generate a return on investment higher than 9 percent.

He attributed the robust earnings to lower fuel costs and resilient demand from air travelers.

SNAPSHOTS

Tech suitors: Shares of Twitter Inc. surged Friday after reports the social media company could receive a formal bid soon. Citing unnamed sources, CNBC said Twitter was “engaged in conversations with potential suitors” — said to include Google and cloud computing software firm Salesforce.com.

Inflated metrics: Facebook’s rapid growth has been tightly linked to convincing advertisers that people are watching more videos on its social network. Now the company has disclosed it has been giving marketers an inflated number for the average time spent viewing online clips. The company boosted the figure by only counting a video as “viewed” if it had been seen for more than 3 seconds. Not included in the calculation was when a person didn’t watch — or watched for less than 3 seconds. Facebook said it was fixing the problem and advertisers weren’t overcharged.

IPO boost: Valvoline Inc., the maker of automotive lubricant and motor oils, raised $660 million in an initial public offering. The Lexington, Kentucky-based company sold 30 million shares for $22 apiece after offering them for $20 to $23 a share, according to a statement. The shares closed Friday at $23.10.