IATA :Airline profits set to fall sharply
Paris - AFP
Profits by airlines around the world are set to be far lower than previously forecast next year, the International Air Transport Association IATA said on Wednesday. IATA said in a statement that it still estimated that airlines would make a total profit of $6.9 billion (5.1 billion euros) this year, but that next year this would fall to $3.5 billion from $4.9 billion expected earlier, and this could turn into a loss of $8.0 billion if the eurozone crisis spread.
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