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

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)
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