Getting your player ready...
The International Air Transport Association has downgraded its 2011 airline-industry profit forecast to $4 billion, primarily because of high fuel costs.
The new outlook is down 54 percent from the $8.6 billion profit predicted in March and a 78 percent drop from the $18 billion net profit recorded in 2010.
The IATA said Monday that North American carriers will see the $4.1 billion profit of 2010 fall to $1.2 billion in 2011.
