Airlines business confidence showed a remarkable improvement in January, according to the latest quarterly research published by the International Air Transport Association, a trade association whose members account for more than 84 percent of the overall global air traffic.

Despite global economic weakness, both passenger and cargo volumes showed a steady pick up over the past three months compared to a year ago, chief financial officers and heads of 240 carriers and cargo companies have reported.

A majority, or 56.3 percent of respondents, expected improved profitability, after financial performance bottomed out at the beginning of 2012.