The world airline industry has been to hell and backin a remarkably short period of time. From record losses of $16 billion in 2008 followed by $9.9 billion in red ink in 2009, carriers are projected to earn $2.5 billion in 2010, according to IATA’s most recent financial forecast presented at last month’s AGM in Berlin (see tables, p. 28). If achieved, this will represent an $18.5 billion profit rebound over two years after a negative swing of $28.9 billion between 2007 and ...

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