Airline revenues, passenger traffic to hit record highs this year


Airline revenues, passenger traffic to hit record highs this year

Monday, 03 Jun, 2024 0

Global airlines will carry almost five billion passengers this year global trade body IATA says.

That will push airline revenues to nearly US$1 trillion.

Both would be all time records, IATA said.

The Association says it expects airlines to post about US$30 billion in net airline profit this year.

This is up on its previous forecast of US$25.7 billion.

Still, overall airline costs will rise to record highs too, the IATA general meeting in Dubai heard.

A US$30 billion airline profit is still nevertheless ‘a great achievement considering the recent deep pandemic losses’, said IATA director general Willie Walsh.

“Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies.”

The Covid-19 pandemic is still affecting the liquidity of some airlines with some smaller flag carriers still struggling.

IATA estimates the pandemic caused US$183 billion in losses globally between 2020 and 2022.

IATA’s 300 member airlines represent 83% of global air passenger traffic.

During the AGM, Delhi, India was announced as host of the 2025 meeting. 

Related News Stories:  Singapore Airlines post strong Q3 earnings     Ryanair posts record profit     Cathay Pacific passenger numbers up more than 40%     Cathay Pacific sees further passenger traffic growth in April     Etihad reports record Q! net earnings     EasyJet welcomes 250 millionth passenger at Gatwick     Emirates hails record annual profit     Etihad launching new Saudi flights     LATAM teams up with Affilired to boost US direct sales     Güliz Öztürk, CEO of Pegasus Airlines: “With our strong performance …    



 

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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