Pursuits
Airlines’ Profit Outlook Cut by $1.4 Billion on EU Crisis
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The airline industry’s profit next year will fall 49 percent, or $1.4 billion more than predicted earlier, as the sovereign-debt crisis in Europe hurts economic growth, the International Air Transport Association said.
Net income will drop to $3.5 billion in 2012 from $6.9 billion this year, with the profit margin narrowing to