Airlines flying higher despite flimsy profits AIRLINES globally are expected to this year post their third-best annual profit since the 2001 terrorist attack on New York after an improved industry performance prompted the International Air Transport Association to upgrade its forecast by more than 16 per cent to $US12.7 billion ($13.2bn). The $US2.1bn upgrade from the March forecast is ahead of the $US7.6bn generated last year, despite weak economic conditions and high oil prices expected to average $US108 a barrel for Brent crude.