https://phys.org/news/2018-06-global-airline-body-protectionism.html

The lower figure, while still considered healthy for the sector, reflected the impact of soaring oil prices which have hit 3.5-year highs following the US pullout from the Iran nuclear deal and unrest in Venezuela.

IATA chief executive Alexandre de Juniac said airlines had so far faced no "significant decline" in passenger or cargo traffic, but warned that both would suffer if trade tensions continued.