IATA raised its 2007 global airline net profit forecast to $3.8 billion from $2.5 billion and projected a 2008 collective industry net of $7.6 billion, pointing to "better than expected traffic coupled with careful control of capacity." Released yesterday, the organization's new guidance said, "The improvement is encouraging but the industry remains vulnerable to the kind of shocks that hit demand and costs in the last six years," adding that "balance sheets remain fragile [because] airlines ...

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