Relative to so many years, the past 12-month period has been another good one for the global air transport industry. So why does it not feel quite as good? Global airline profitability for 2018 is expected to be $33.8 billion, according to IATA’s June forecast, which also believes airlines will generate more revenue in 2018—$834 billion, up 10.7% from $754 billion in 2017—than in any year in the industry’s history. Air cargo is another “good news” story ...

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