The International Air Transport Association has released its financial monitor for airlines for the month of June. The key points are as follows: •    The latest financial results continue to point to a robust Q1 2016 for industry profitability. Cash flow metrics from the first quarter also improved relative to the same period a year ago, despite higher capital investment; •    Nonetheless, uncertainty following the ‘Brexit’ vote has taken a heavy toll on airline shares, particularly in Europe; •    Brent crude oil ended June slightly below $50/bbl and broadly unchanged from where it started the month. The market still expects

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