High oil prices are expected to weigh down airlines' profits around the world, the International Air Transport Association (IATA) said Tuesday in Geneva.
The industry would earn 3 billion dollars this year, IATA said, less than the previous estimate of 3.5 billion dollars from December.
In 2011, the world's airlines had still made a total profit of 7.9 billion dollars.
"The risk of a worsening Eurozone crisis has been replaced by an equally toxic risk -- rising oil prices," IATA director general Tony Tyler said.
Europe's airlines were facing the most difficult situation among the world's regions, as many European economies have been hit by recession, IATA said.
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