IATA warned that the airline industry must consolidate if it is to survive as the organization once again lowered its 2008 industry profit projection yesterday. In early December IATA projected an aggregate industry profit of $5 billion (ATWOnline, Dec. 13, 2007) but yesterday issued another downgrade to $4.5 billion, a figure based on global economic growth slowing to 2.6% and an average annualized price of $86 per barrel of Brent Crude. "It's turning out to be a very tough year," DG and ...

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