The International Air Transport Association (IATA) raised its 2017 industry profit outlook this week to $31.4-billion (U.S.), up from a previous forecast of $29.8-billion. IATA also raised its outlook for 2017 industry revenue to $743-billion from $736-billion on expectations that the global economy will post its strongest growth in six years. The forecast underscored a new golden age for airlines' profitability even as carriers scramble to meet fast-changing electronics restrictions, pressure to limit emissions and unprecedented social-media scrutiny over their every mistake.
