The IATA lowers its industry outlook on the back of high oil prices, and expects airlines to...

|By:, SA News Editor

The IATA lowers its industry outlook on the back of high oil prices, and expects airlines to turn a $3B profit in 2012 for a 0.5% margin vs. earlier forecasts of $3.5B. The expected average price of oil is pegged at $115/barrel, up from $99. (IATA statement)