Centre for Asia Pacific Aviation reports that the airline industry’s general exasperation about the impact of high fuel prices on profitability is increasingly unsupported by figures from its own peak industry body. Forecast average fuel prices for the year have steadily risen by 28% since the Dec-05 IATA forecast for a USD4.3 billion industry loss for 2006. But that loss has since been cut by more than half, to USD1.7 billion, according to IATA’s latest estimate. According to the Center’s Executive Chairman, Peter Harbison, “the improved outlook […]
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