The trend of soaring global airline profits is threatening to leave Africa behind, and a study suggests that the lack of liberalized air service agreements between African nations is playing a major role in suppressing the region’s markets. After posting collective net losses in the last two years—the only world region to do this—African carriers are on pace to return a net profit of $100 million in 2014 on a net profit margin of less than 1%. The other five world regions ...

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