The International Air Transport Association, IATA, has further downgraded its 2011 airline industry profit forecast to 4 billion dollars.This would be a 54 per cent less compared to the 8.6 billion dollar profit forecast in March. IATA's DirectorGeneral and CEO, Giovanni Bisignani said that natural disasters in Japan, unrest in the Middle Eastand North Africa, and the sharp rise in oil prices haveslashed industry profit expectations this year. He said, the efficiency gains of the last decade and thestrengthening global economic environment are balancing the high price of fuel. But with a dismal 0.7 percent margin,there is little buffer left against further shocks.