Airline industry concerned about oil costs, IATA says

07/3/2013 | CNBC

The International Air Transport Association warned that a spike in oil prices to more than $100 a barrel this week could lead to higher airfares. "Any pressure upwards is a great concern for the industry. A third of our costs are oil costs so clearly any movement upwards is going to have an impact," said Tony Tyler, CEO and director general of IATA.

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