AIRLINE EXECUTIVES BRACE FOR OIL PRICE TURBULENCE

Airline executives are gathering in Sydney’s winter chill under the shadow of higher oil prices and a string of accidents after enjoying a near-spotless 2017 in terms of profits and safety. The annual meeting of the International Air Transport Association (IATA), with 130 CEOs and 1,000 delegates, will kick off on Sunday, and worries that a three-year run of unusually high returns might end are in the spotlight. IATA, which represents about 280 airlines comprising 83 per cent of global air traffic, in December predicted a record US$38.4 billion of net profit for the airline industry in 2018, with US$27.9 billion coming from U.S. and European airlines. An updated profit forecast to be issued on Monday will be lower, IATA CEO Alexandre de Juniac, pictured, said in Sydney on Thursday.