IATA cuts airline profit forecast

|By:, SA News Editor

Dented by higher fuel and labor costs, global airline profits this year are set to slide from the record reached in 2017.

Net income for 2018 is likely to total $33.8B, 12% lower than a December forecast for $38.4B, according to the International Air Transport Association.

The new forecast compares with an all-time high of $38B airlines made last year, which was boosted by special accounting like one-off tax credits.

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