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Business trends

Global airlines slash profit forecast 21% on protectionism fears

  © Reuters

SEOUL (Reuters) -- Global airlines slashed a key industry profit forecast by 21% on Sunday amid concerns over an expanding trade war and higher oil prices.

The International Air Transport Association, which represents about 290 carriers or more than 80 percent of global air traffic, said the industry is expected to post a $28 billion profit in 2019, down from a December forecast of $35.5 billion.

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