European carriers are expected to report combined losses of $1.1 billion for the year, almost double the previous forecast of a $600 million loss, according to IATA. Releasing its revised 2012 industry outlook in Beijing during its annual meeting and summit, IATA said global industry profits are expected to be $3 billion, unchanged from the last update in March (ATW Daily News, March 21). A fall in oil prices, stronger than expected growth in passenger traffic, and a bottoming out of the ...

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