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Construction : Web Exclusive | September 2013 | Source : Construction Update

IATA says slowdown to hit global aviation

Net profit of global aviation industry has been downgraded by the International Air Transport Association (IATA) from $12.7 billion to $11.7 billion in 2013. According to the IATA's outlook, slow cargo segment growth, slowdown in emerging markets and high oil prices have led it to downgrade its earlier projection. Despite the downgrade, the current expected net profit of $11.7 billion will be more than 58.10 per cent from $7.4 billion in 2012, the IATA Director General and Chief Executive Tony Tyler said. Overall, the story is largely positive. Profitability continues on an improving trajectory, he added.
 
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