For all of airline executives’ assurances that sustained, strong profitability is possible without low fuel prices, the main factor driving airline profitability in the first half of 2016—particularly in the US—was the drop in oil costs.  Low fuel prices continue to provide a cushion against a slow global economy, persistently sluggish revenues, and a spate of anxiety-inducing events around the world, including the June 23 UK referendum vote to leave the European ...

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