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Higher oil prices are taking a toll on airline profits

June 4, 2018

Via: CNN

Airline profits are set to take a hit from the rise in oil prices and other increasing costs this year.

The International Air Transport Association, a global industry group, has slashed its forecast for total profits for the global airline industry in 2018 by 12%.

In a report published Monday, IATA is now predicting total profits of $33.8 billion, down from a previous forecast of $38.4 billion in December.

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