IATA projected Tuesday that the world's airlines will earn aggregate net income of $3 billion in 2012, 14.3% below its industry profit forecast for the year issued in December (ATW Daily News, Dec. 8, 2011) and 38.8% lower than the $4.9 billion profit it predicted for 2012 last September. The latest downgrade "is primarily driven by a rise in the expected average price of oil to $115 per barrel, up from the previously forecast $99," IATA said. "Several factors ...

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