Likely To Cut

Rising Fuel Prices Likely To Cut Into Airline Industry’s Profits

Rising Fuel Prices Likely To Cut Into Airline Industry’s Profits

The International Air Transport Association, or IATA, cut its industry-wide profit forecast to $8.6 billion from $9.1 billion, based on rising fuel prices. The $9.1 billion profit estimate, made in December, was based on an average oil price of $84 per barrel; that estimate has since been raised to $96 a barrel for the year. […]