IATA lowers 2011 industry profit forecast to $8.6 billion on rising oil prices

Citing rapidly rising oil prices, IATA on Wednesday trimmed its 2011 earnings forecast for the world's airlines by 5.5% to $8.6 billion from $9.1 billion projected in December. IATA estimates that airlines earned $16 billion in 2010. "Political unrest in the Middle East has sent oil over $100 per...

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