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Willie Walsh, Chairman of the International Air Transport Association, stated that due to the rising aviation fuel prices, it is expected that more airlines will go bankrupt and there will be industry consolidation in the future. He pointed out that the likelihood of a merger between United Airlines and American Airlines is small due to regulatory hurdles. Walsh also stated that once the Middle East conflict subsides, airlines and hubs in the Gulf region will regain market share. Furthermore, despite disappointing progress in clean fuels, IATA still adheres to the net-zero emissions target for 2050.