Total profits for the group's 275 member airlines are now expected to hit US$31.4 billion this year, up more than five percent from the previous forecast late last year. "Airlines are defining a new epoch in industry profitability. For a third year in a row, we expect returns that are above the cost of capital," said IATA's director general, Alexandre de Juniac, as the group opened its annual meeting in the Mexican resort city of Cancun. But he warned airlines still face risks, ranging from cost increases to security issues to growing protectionism in some countries, including the United States and Britain. Get the full story at Flight Global