IATA blamed surging oil prices, unrest in the Middle East and natural disasters across the globe for slashing the airline industry’s projected 2011 profit by 54% to $4 billion from $8.6 billion forecast by the organization in March (ATW Daily News, March 3). The downgrade, the second in just three months, is a sobering 78% below 2010’s $18 billion profit. Expected revenue of $598 billion means that the industry's profit margin will be an insignificant 0.7%. Speaking in ...

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