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Report: World’s Airlines to Lose $5.5 Billion

In case you thought things were actually getting better in the ol’ airline industry, a new report comes out saying that airlines will lose $5.5 billion this year.  Industry group IATA put together the report with the assumption (which now seems crazy) that fuel will average $43 a barrel this year (it hit $57 a barrel this week).  For some reason, they also blame governments for imposing taxes on airfares for some of the losses.  They do not mention high costs and fares that are too low to be profitable.

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