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IATA cuts airline profit forecast due to oil price
March 20, 2012 / 9:53 AM / 6 years ago

IATA cuts airline profit forecast due to oil price

GENEVA, March 20 (Reuters) - The International Air Transport Association has cut its forecast for global airline profits due to a sharp rise in oil prices, saying a spike to $150 per barrel could lead to losses as high as $5.3 billion.

In its financial forecast for 2012, IATA forecast industry profits of $3 billion on Tuesday, down from a previous estimate of $3.5 billion. (Reporting by Tom Miles; Writing by Emma Farge and Stephanie Nebehay; Editing by Dan Lalor)

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