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Monday, June 3, 2024 On Monday, International airlines significantly upgraded their profit outlook for 2024, predicting industry-wide revenues nearing $1,000,000 Million, spurred by an unprecedented surge in passenger numbers. The International Air Transport Association (IATA) now anticipates a profit of $30.5 billion for the year, surpassing the previously adjusted estimate of $27.

4 billion from 2023. This increase is attributed to efficient management of labor costs despite recent strikes, reflecting a stark recovery from the $140 billion loss in 2020 due to the pandemic. The revised profit forecast for 2024 exceeds the earlier prediction of $25.



7 billion made last December. Speaking from an annual IATA gathering attended by over 300 member organizations, which represent more than 80% of worldwide air traffic, Director General Willie Walsh highlighted the unexpectedly strong recovery in the Asia region. Walsh, however, voiced concerns about ongoing disruptions in global supply chains affecting the industry’s capacity to meet the rejuvenated demand for air travel, exacerbated by delays in aircraft deliveries.

IATA’s latest economic report anticipates a 3.2% increase in passenger yields—the average price a passenger pays to fly one mile—owing to limited capacity growth pushing up average ticket prices. In contrast, cargo yields are predicted to decrease by 17.

5% in 2024 as freight markets stabilize after a spike during the pandemic. Airline operations are often viewed.

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