A Mongolian Airlines Boeing-737 aircraft landing at Moscow’s Sheremetyevo airport. REUTERS/Maxim Shemetov
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Airline earnings are set to advance 10 percent to a record $36.3 billion in 2016, aided by cheap fuel and an expanding U.S. economy, the International Air Transport Association said after boosting its estimate for the current year by $3.7 billion.IATA cut its estimate for 2015 earnings at Middle Eastern carriers to $1.4 billion, down from $1.8 billion, suggesting that while the region benefits from "super-connector" carriers such as Emirates, smaller airlines are suffering from the impact of lower oil revenues and political and religious conflicts.Latin American performance will suffer from a deepening economic crisis in Brazil, weak commodity prices and adverse currency fluctuations, and the region is forecast to have a $300 million loss in 2015, recovering to a $400 million profit next year.
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