IATA has downgraded its industry profit outlook for 2019, as revenue gains are not expected to keep pace with costs, putting more pressure on margins. The industry association projects a collective profit of $28 billion for airlines this year, down from the previous estimate of $35.5 billion and lower than last year’s $30 billion profit. The change reflects an airline business environment has “deteriorated” since the last update in December, IATA said. Revenue is forecast ...

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