Global airlines to expect profit turbulence

The world's airlines are looking at cloudy skies, as far as profit forecast for 2014 goes.

The International Air Transport Association has cut down its profit forecast for the global industry by as much as 514 million euros.

Political instability in an increasing number of countries, including top tourism destinations like Thailand and Russia together with a lower Chinese growth have led to a slow-down in expected revenue for the current year.

In addition, other factors such as rising infrastructure development costs, inefficiencies in air traffic management, high taxes and costly regulations put the global airline profit just a little over 13 billion euros.