Airlines on track for R575bn profit in 2024, IATA predicts | News World

The global airline industry is set to generate $30.5 billion (about R575 billion) in net income this year, the International Air Transport Association predicted, amid higher ticket prices and a continued desire to travel following the pandemic.

The outlook compares with the $27.4 billion in profit achieved last year, IATA said at its annual general meeting in Dubai on Monday. It’s also more optimistic than the $25.7 billion that IATA predicted for this year in December. But while profit is rising, so are expenses, holding back earnings per passenger, IATA said.

“Earning just $6.14 per passenger is an indication of just how thin our profits are — barely enough for a coffee in many parts of the world,” said IATA Director General Willie Walsh.

The global aviation industry has managed to bounce back from the pandemic that weighed…


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