IATA, citing the easing of oil prices in the current quarter, trimmed its estimate of industry losses in 2005 from $7.4 billion to $6 billion. Brian Pearce, IATA's chief economist, told ATWOnline that the organization decided the average price of oil will be in the $54-$55 per barrel range, down from the $57 price assumed in August. That reduction, coupled with "quite a strong revenue environment," produced the revised forecast. Total fuel bill for the world's airline industry still will ...

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