Airlines expect further deterioration in profits and more job cuts over the next 12 months amid near-record fuel costs and slowing growth in demand, an industry survey of chief financial officers found.

Some 70 percent of respondents said profitability will decrease, up from 61 percent in April, the International Air Transport Association, which represents about 230 airlines, said in an e-mailed statement. For the first time in the survey, the percentage of executives expecting a decline in employment was greater than the share foreseeing an increase.

The results reflect a 77 percent jump in fuel costs during the past year that's forcing airlines to eliminate routes, add surcharges and write down the value of less-efficient aircraft. American Airlines parent AMR Corp. and Delta Air Lines Inc. last week reported combined quarterly losses of $2.49 billion, and carriers including JetBlue Airways Corp. may post deficits when they report earnings this week.

There may be little relief in sight, the survey showed. Eighty-five percent of the CFOs said costs will increase further, similar to the more than 83 percent that said so in April.

The IATA said there's a "general expectation" among the CFOs that the rate of passenger demand growth, while still positive, is slowing.

Cost cutting and steps such as surcharges to pass fuel prices on to customers will help raise revenue per passenger mile, according to the survey.

Thirty-two percent of the executives in the IATA poll anticipate jobs reductions, while 21 percent expect to boost employment.

About 47 said they expect no change.