IATA cuts 2012 airlines profit forecast to $3.0 bn
Geneva - AFP
Industry group IATA on Tuesday cut its 2012 profit forecast for the airline sector to $3.0 billion ($2.3 billion) from $3.5 billion as tensions in the Gulf push fuel prices higher. However, the International Air Transport Association raised its 2011 earnings estimate for the sector to $7.9 billion from a previous forecast of $6.9 billion.
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