AIR TRANSPORT ASSOCIATION

Oil prices to squeeze 2011 airline profits: IATA

International Air Transport Association CEO Giovanni Bisignani speaks at the IATA Annual General Meeting in Berlin
The International Air Transport Association (IATA) slashed its forecast for airline industry profits in 2011, citing the recent surge in oil and jet kerosene prices. The association warned of substantial deterioration in profits if rising energy costs significantly weakens economic growth.
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