Airfares out of Australia are predicted to increase dramatically as a result of the surging price of fuel.
The rise in oil prices to $US80 a barrel has left many airline chief executives 'worried', according to an international aviation expert.
He also warned the foiled terrorism plot in Sydney last year is a reminder that aviation is a 'target for terrorists'.
Airfares out of Australia are predicted to increase dramatically as a result of the surging price of fuel
International Air Transport Association chief executive Alexandre de Juniacat made the grim prediction during an address to the Australasian Aviation Press Club Lunch in Sydney.
'In December last year, we predicted a record industry profit of over $US38 billion for 2018,' he said. At that time we were expecting an oil price of $US60 per barrel for Brent crude.
'Now it is approaching $US80. Airlines only make on average $US8 profit per passenger and