Airlines slash profit forecast over rising costs
Profits at the world's major airlines will be hit this year by rising fuel and labour costs, the industry's trade body has said.
The International Air Transport Association has cut its profit forecast for 2018 by 12% to $33.8bn (£25.3bn).
IATA, which is holding its annual meeting, said rising interest rates and trade tensions would also hit profits.
Airlines earned a record $38bn in 2017, although this was distorted by several one-off changes, such as tax credits.
Despite the reduced profit forecast, IATA's director general, Alexandre de Juniac, said in statement: "Solid profitability... read more
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