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Oil to cut into industry profit forecast: IATA

28-Feb-2011 10:59 AM

IATA warned that increases in oil prices “could change completely the picture” for the aviation sector, with IATA’s forecast of USD9.2 billion in airline industry profits based on an average oil price of USD84 per barrel (mercopress, 25-Feb-2011). Oil represents 27% of airline industry costs.