IATA has revised its 2012 financial forecast upward, predicting the world’s airlines will earn a $4.1 billion profit for the year compared to $3 billion forecast in June. But profits will still be less than half the $8.4 billion airlines earned in 2011. Announcing the revised forecast from Singapore Oct. 1, IATA DG and CEO Tony Tyler said the fall in profitability this year will not be as bad as previously expected, “but we should not get too excited.” The net profit ...

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