Thanks to improvement among value carriers, mostly in Asia, the International Air Transport Association (IATA) is adding a bit more than a billion dollars to its 2012 airlines profit forecast, but that is still 51% off last year’s pace, and the improvement seen coming next year still will not allow airlines to reach the healthier 2011 or 2010 levels. In June, IATA estimated the world’s carriers would collectively post a $3 billion profit; this week, the trade group reported that it has ...


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