Global airline industry to post $30.5 billion net profit, $996 billion revenue in 2024 | News World

Dubai: The global airline industry is projected to report a higher net profit of $30.5 billion and record revenue of nearly $1 trillion, IATA said on Monday as the sector is growing profitably after recovering from the coronavirus pandemic impact.

The number of air travellers is expected to touch five billion this year.

The International Air Transport Association (IATA), which represents more than 330 airlines, however, said the return on invested capital is expected to be 5.7 per cent, which is 3.4 per cent lower than the average cost of capital in 2024.

Industry revenue is expected to reach an historic high of $996 billion while passenger revenue is projected to be 15.2 per cent higher at $744 billion this year.

“Profitability is expected to strengthen in 2024 as revenues grow slightly faster than expenses (+9.7 per cent vs +9.4 per cent, respectively)…net profits, however, are expected to grow slightly more slowly at +11.3 per cent from $27.4 billion estimated for 2023…

Source www.millenniumpost.in

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