By Lawrence Hurley WASHINGTON (Reuters) - The Supreme Court agreed on Monday to consider whether an airline had legal immunity from a defamation claim after employees reported a disgruntled colleague to federal authorities as a possible security risk. Air Wisconsin Airlines Corp, a subsidiary of Harbor Diversified Inc, says it is immune from the claims made by former pilot William Hoeper under a law passed after the September 11, 2001, attacks that encouraged airlines to share security concerns.

Global airlines are set to post profits of 12.7 billion dollars (9.8 billion euros) this year, the International Air Transport Association (IATA) forecast on Monday, revising higher a previous estimate. This compared to $7.6 billion in profits made last year and was an improvement on a March forecast of $10.6 billion. If confirmed, it would make 2013 the industry's third-best year since 2001. But IATA head Tony Tyler said business was "still tough" and noted that airlines were operating with a 1.8-percent profit margin.

NEW YORK, N.Y. - U.S. airlines charged more in fares and fees and reduced debt as they improved their financial performance in the first quarter. They still lost money, which is typical for the year's first three months travel slows after the holidays and delays rack up from snow storms. But the deficit was $552 million — or $3.30 per passenger — compared with $1.7 billion in same period in 2012.

Air New Zealand shares rose more than five percent Wednesday after the airline predicted its annual earnings will more than double in the 2012-2013 financial year. The flag carrier said in a market update that passenger numbers in March rose 5.2 percent on the same period last year and demand was up 8.2 percent on its domestic routes and 9.3 percent on routes to North America and Britain.