SYDNEY: Profits in the airline industry are unlikely to reach the record levels forecast in December due to a jump in fuel costs, the head of the world's leading air transport group said on Thursday. IATA ) Chief Executive Alexandre de Juniac said his organisation will issue fresh forecasts next week, and that airline profits were still likely to be robust.The December projections were based on oil at $60 per barrel, Juniac said. Brent crude is currently over $77 per barrel, having risen roughly 15 percent so far this year. "We are probably at the peak of the (profit) cycle. IATA represents some 280 airlines comprising 83 percent of global air traffic.Juniac said higher fuel prices had not yet been passed on in fares and that infrastructure and labour costs as well as taxes were rising.

Source: Economic Times May 31, 2018 04:52 UTC