Air fares decline in further threat to profit - IATA

PARIS (Reuters) - Airlines cut domestic fares by an average 23% last month as traffic picked up from April lows, global industry body IATA said on Wednesday, warning that post-coronavirus discounting posed a further threat to profitability.Domestic passenger traffic rose 30% globally in May from a very low base in April, when much of the industry was brought to a near-standstill by the COVID-19 pandemic, IATA said in an online presentation.But the uptick came at the price of fare cuts that..