IATA predicts airlines will reach a net profit of $30. 5 billion by 2024
Head of IATA forecasts a record-breaking 5 billion passengers flying on 39 million flights across 22,000 routes this year.
Table of Contents (Show / Hide)
The International Air Transport Association (IATA) expects airlines' net income to hit $30.5 billion in 2024, up 11.3% from last year.
Airlines are projected to see a historic high of $996 billion in revenues and a record $936 billion expenses this year, according to the Global Outlook for Air Transport report released by the IATA on Monday.
Stressing that the net income represents a net margin of just over 3%, IATA Director General Willie Walsh said: "But considering where we were just a few years ago, it is a major achievement."
Airlines' operating profits are expected to reach $59.9 billion in 2024, up from an estimated $52.2 billion in 2023.
The IATA foresees airlines will connect a record 4.96 billion people to over 22,000 routes on 39 million flights this year.
Total air cargo volumes are foreseen to reach 62 million tons in 2024, making possible $8.3 trillion in trade.
URL :
News ID : 3347
Saudi Arabia calls for help to tackle Houthi attacks
First Citizens Bank purchases Silicon Valley Bank's deposits, loans
6 Businesses with Low Failure Rates in 2023
Euro hits fresh 20-year low
As recovery efforts continue in cyclone-hit areas, New Zealand to provide extra funds
13 Businesses to Start for Under $1,000 in 2023 (part2)
Global demand for air cargo falls 5.2% amid Russia-Ukraine war
Operation Al-Aqsa Storm: Impact on Israeli Economy
How Mohammed bin Salman Burdened Saudi Arabia of Heavy Loans and Debts
7 Powerful Passive Income Ideas That Could Transform Your Life!
