GENEVA—The global airline industry is forecast to benefit significantly from the drop in fuel prices, but part of the improvements will be passed on to consumers in the form of significantly lower fares, the International Air Transport Association (IATA) forecasts. The association believes airlines will make a combined profit of $25 billion in 2015, up from $19.9 billion this year, $10.6 billion in 2013, and $6.1 billion in 2012. “We see falling oil prices to give a great boost ...

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