IATA lowered its global airline earnings forecast for 2012 to a net profit of $3.5 billion, 28.6% below its previous forecast, and warned of a possible net loss of $8.3 billion if the Eurozone crisis deteriorates into a renewed banking crisis and worldwide GDP growth slows to 0.8%. In its previous forecast in September, IATA still expected the world's airlines to post a profit of $4.9 billion next year (ATW Daily News, Sept. 21). "The biggest risk facing airline profitability ...

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