The International Air Transport Association released new profitability forecasts for global airlines, indicating that despite high interest rates slowing down developed and emerging market economies, carriers are projected to achieve record revenues
Airlines are expecting to carry a record 4.7 billion passengers in 2024 as the sector puts the Covid-19 pandemic behind it, trade industry association IATA said Wednesday.
The global airline sector has largely recovered from the COVID-19 pandemic, which saw planes grounded and travellers reluctant to fly, as demand has boomed across North America, the Middle East and Europe. The airline sector returned to profitability in 2023, with net profit expected at $23.3 billion on a 2.6% margin, and is set to reach $25.7 billion and a margin of 2.7% next year, the International Air Transport Association (IATA) said.
International Business News: The global aviation industry is focusing on decarbonisation and aims to reduce carbon intensity by 5% by 2030. To achieve this, the production of sust