The International Air Transport Association (IATA) has released its forecast for airline profitability in 2024, compared to June and December 2023 forecasts.
Publish dateWednesday 5 June 2024 - 00:25
The expected total net profit of $30.5 billion in 2024 is a big achievement given the deep recent pandemic losses.
The global economy relies on air freight to deliver the $8.3 trillion in business that reaches customers by air.
Willie Walsh, CEO of IATA, said: "Profitability of investment in products enables us to meet the needs of our customers and in sustainable solutions we must achieve net zero carbon emissions by 2050."
Profitability is expected to strengthen in 2024 as revenues grow slightly faster than expenses, with operating profit reaching $59.9 billion.
Passenger revenue is expected to reach $744 billion in 2024, a 15.2 percent increase from $646 billion in 2023.
IATA expects revenue passenger kilometers (RPKs) to grow by 11.6 percent year-on-year. The 20-year long-term growth trend is expected to see an annual growth of 3.8% in passenger demand for the period 2043-2023.
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Source : news agency wam
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