Airline Industry Profit Forecast Is Cut on Ukraine Crisis

Airline earnings for 2014 will be $1 billion or 5 percent lower than previously predicted as political tensions drive up oil prices and growth in emerging markets slows, the International Air Transport Association said.

Carriers will earn a combined net income of $18.7 billion, versus the $19.7 billion forecast on Dec. 12, the Geneva-based industry group said today. Revenues will reach about $745 billion, about $2 billion higher than previously projected.