Singapore Airlines chief executive Goh Choon Phong (L) and Qantas chief executive Alan Joyce (R) talk before a press conference at the annual meeting of global airlines in Sydney on June 4, 2018. / AFP / PETER PARKS
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Trade wars and protectionism are key risk factors to airline profits already weakened by rising oil prices, the International Air Transport Association said Monday.IATA -- which represents 280 airlines that make up 83 percent of global air traffic -- said the sector had experienced nine years of gains, although operating profits have been trending slowly lower since early 2016 thanks to rising costs.Among the regions, North American airlines were expected to record a net profit of $15.0 billion this year, representing 44 percent of the global total.European and Asia-Pacific carriers are tipped to report their second-highest ever net profits of $8.6 billion and $10.1 billion representatively.
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