NEW DELHI: The global airline industry is expected to rake in a profit of $28 billion this year, much lower than the earlier forecast of $35.5 billion, IATA said on Sunday, as rising fuel prices and weakening world trade are adversely impacting the business environment.
“This year will be the tenth consecutive year in the black for the airline industry. But margins are being squeezed by rising costs right across the board—including labour, fuel, and infrastructure. Stiff competition among airlines keeps yields from rising.
