The International Air Transport Assn. has brightened its economic forecast, raising 2007 profit projections by $1 billion, and now its leader is challenging world governments to bring the "cautious optimism" emerging in industry to reality. Effective airline cost-cutting and stronger than expected economic recovery, particularly in Europe and Asia, led IATA last week to slash its 2006 industry loss projection in half, to $2.2 billion, and increase its 2007 profit projections to $7.2 ...

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