Global airlines slash profit forecast on protectionism fears
International Air Transport Association warns over trade tensions
02 June 2019 - 21:53
Seoul — Global airlines slashed a widely watched industry profit forecast by 21% on Sunday as an expanding trade war and higher oil prices compound worries about an overdue industry slowdown.
The International Air Transport Association (Iata), which represents about 290 carriers or more than 80% of global air traffic, said the industry is expected to post a $28bn profit in 2019, down from a December forecast of $35.5bn...
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