TRANSPORTATION

Airlines May Lose $4 Billion in 1991: The Gulf War is not over yet for the world’s airlines, which face combined losses of up to $4 billion this year, the International Air Transport Assn. said. The industry lost $2.7 billion in 1990--the worst in 46 years of civil aviation history--mainly because of high fuel prices and war risk premiums after Iraq’s invasion of Kuwait in August of last year. “At the conclusion of the war, most carriers were of the opinion that traffic would rebound and that 1990 levels would be regained by mid-year,” the association said. “This has not happened.”