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Falling oil prices leading to record airline profits, cheaper air fares

Travel industry players say the relatively low prices are likely to continue throughout 2016, including an anticipated 23% drop in the price of air fares to Rio this summer, just in time for the Olympic Games.

New York

PLUMMETING oil prices have led to falling plane ticket prices - and prospects for an even bigger bonanza of consumer-friendly fares in the coming months, airline industry players say.

With fuel prices down by two-thirds from the dizzying heights of mid-2014, when oil...