The International Air Transport Association (IATA), the worldwide airline industry’s trade body, has said that profits will be hit by concerns for the Chinese economy.

IATA director general Tony Tyler said that the industry faced “strong headwinds” which would likely bring 2014’s global profits down to $18 billion from the $18.7 predicted in March. However, this still represents a sharp increase on the $10.6 billion achieved in 2013.