If claims match up with last year, the industry may post an underwriting return on investment for the first time in four years, Aon said.

The aviation marketplace is expected to easily collect more than $2 billion in premium this year, an ample amount to cover hull and liability claims in an average year, Aon said in its report.

An average claim year, Aon said, is $1.5 billion, and the marketplace has only exceeded $2 billion three times in the past 14 years.

The current loss figure, excluding minor losses, stands at $264 million, compared to $597 million recorded at this point last year. Adding minor losses, overall loss total is $447 million at present, compared to $780 million in 2009.

There has been one major loss so far this year, Aon said--an Airbus 330 that crashed while landing at Tripoli Airport, Libya, on May 12. That crash claimed 104 lives.

The aircraft was valued at $124 million, and Aon noted that there is potential for high liability claims as a result.

"The loss means that as we approach the mid-point of the year, total claims for the airline industry are only two percent, about the long term average of $439 million between 1996 and 2009," the report states.

However, the report cautions, one loss can change things significantly.

Regarding the airline industry disruption from the volcano in Iceland, it is not expected to have an impact since business interruption claims only kick in when there is damage to the aircraft, which has not been the case with airplanes grounded, Aon said.