The airline industry is cutting its 2019 profit forecast due to concerns about widespread trade conflicts and higher oil prices, the International Air Transport Association (IATA), which represents about 290 airlines, said in a statement.

The industry is now expected to make a total profit of $28 billion, 21 percent lower than the forecast for this year in December.

”"The companies will still make a profit, but there is no quick money to be made," said IATA Director General Alexandre de Juniac during the organization's annual meeting in Seoul.

The airlines' increased pessimism follows a global trend. Most recently, stock markets have turned down after the US president's threat to impose import tariffs on Mexican goods as well.

Source: TT