IATA yesterday moderated industry profit and loss expectations for 2006 in the face of expectations that the price of oil will average $66 a barrel, a level that is offsetting revenue growth and efficiency gains. Speaking at the opening of the World Air Transport Summit and AGM in Paris, CEO and DG Giovanni Bisignani said airlines will lose $3 billion this year. In late March he put the figure at $2.2 billion based on $57 per barrel oil (ATWOnline, March 24). Problems in the US domestic ...

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