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Air travel demand is breaking records. Airline profits are not.

This statement indicates that despite the increase in the number of people choosing to travel by air, which is creating a record-breaking demand, the airlines are not making as much profit as one might expect from such a surge in demand. This can be due to several reasons, such as higher operating costs, fierce competition leading to lower ticket prices, increasing fuel prices, and miscellaneous expenses that are eating into the overall profit margins of the airline companies.

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