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IATA has downgraded its outlook for European airlines in 2012, projecting losses of $1.1 billion
Joel Saget
This file photo shows Air France planes at the Roissy-Charles de Gaulle airport outside Paris, on June 1. Airline industry group IATA warned on Monday global profits would more than halve this year owing to surging oil prices and the eurozone crisis, with European carriers suffering losses of $1.1 billion.