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IATA sees global airline profit halving in 2011

from Reuters

Global airline net profits will halve this year as rising costs, especially oil prices, offset increasing demand, the industry body IATA said. The result would be a net profit margin this year of only 1.4 percent -- dismissed by IATA Director-General Giovanni Bisignani as more worthy of a charity than an industry -- down from 2.9 percent in 2010. more

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