PARIS-
Airlines around the world are expected to lose a combined $3 billion this year as high fuel prices continue to hurt profitability, the International Air Transport Association said in a forecast Monday.
World airlines had a loss of $3.2 billion in 2005. More efficient use of fuel and other cost-cutting efforts are expected to lift the industry's 2006 operating profit to $7 billion from $4.3 billion last year, said the IATA, whose two-day annual meeting began Monday.
The industry's total fuel bill is forecast to rise 23 percent this year to $112 billion, based on a forecast of a barrel of oil at $66, said the IATA, which represents 261 airlines from 136 countries.
Revenue is forecast to rise 8.5 percent this year to $448 billion, on passenger traffic volume growth of 6.7 percent, the group said.
