Citing rapidly rising oil prices, IATA on Wednesday trimmed its 2011 earnings forecast for the world's airlines by 5.5% to $8.6 billion from $9.1 billion projected in December. IATA estimates that airlines earned $16 billion in 2010. "Political unrest in the Middle East has sent oil over $100 per barrel," IATA DG and CEO Giovanni Bisignani noted, adding this is "significantly higher than the $84 per barrel that was the assumption in December." For the full year, ...

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