The world's airlines will lose $5.5 billion in 2005 if oil prices average $43 per barrel for the full year, IATA DG and CEO Giovanni Bisignani stated yesterday in New York (on April 1, the price of the May crude-oil contract hit a record $57.70 a barrel on the NY Mercantile Exchange, the Wall Street Journal reported). "The high price of fuel is robbing our profitability," Bisignani said as he repeated calls for governments to reduce the tax burden on the industry. "Deregulation was meant to ...

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