Airline industry profit forecasts for 2011 are falling like a brick:
The International Air Transport Association (IATA) has lowered its global industry profit forecast by 54% to $4bn from a previous forecast of $8.6bn in March and a 78% drop compared with the $18bn net profit recorded in 2010. The international industry body blamed the natural disasters in Japan, unrest in the Middle East and North Africa, as well as the sharp rise in oil prices.
Undoubtedly the irradiation and sexual assaults had something to do with it too….
Systemic Failure 
If it’s a global drop, then it can’t be just about patdowns and naked scans, because those are only for flights in (or to) the US.
Among North American carriers, the projected profit will be $1.2 billion, down from $4.1 billion last year. So, yes, there are many factors, but that is a major drop.