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Airlines Poised for $12 Billion Global Windfall on Oil Collapse

Airlines around the world are poised for a $12 billion windfall as the global oil crash cuts bills for jet fuel, the biggest expense in an industry that was battered by surging commodity prices last decade.

The savings promise to produce fatter profits and, in the U.S., rewards for shareholders through sweetened dividends or stock buybacks. Missing out so far are consumers, because many carriers are still filling seats without having to resort to discounts.