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Sweet spot souring? IATA lowers 2008 industry profit forecast

The International Air Transport Association (IATA) has slashed

its combined industry net profit target for 2008 by 19%, to USD7.8 billion,

due to high oil prices and the turmoil in credit markets. Director General and

CEO, Giovanni Bisignani, stated, the impact of the credit crunch “puts

some question marks over the industry’s performance next year and the

continuing high price of fuel will become more difficult to mitigate with efficiency

gains”.

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