While 2019 is far from a banner year for airlines, it is reinforcing the growing belief that this industry has developed sufficient resilience to break out of its historic boom-and-bust cycles. IATA has downgraded its 2019 outlook for the world’s airlines to a $28 billion collective profit, down from the $35.5 billion forecast in December and a $2 billion decline from 2018’s net profit of $30 billion.  The business environment for airlines has deteriorated, IATA notes, ...

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