DUBAI — Total travellers are expected to reach 4.96 billion in 2024, a record high, however an aggregate return above the cost of capital continues to elude the world’s airlines, according to the stats emerging from IATA’s AGM in Dubai. IATA announced strengthened profitability projections for airlines in 2024, compared with its June and December 2023 forecasts.
Outlook highlights released at IATA’s 2024 AGM in Dubai include ...
“In a world of many and growing uncertainties, airlines continue to shore-up their profitability. The expected aggregate net profit of $30.5 billion in 2024 is a great achievement considering the recent deep pandemic losses,” said Willie Walsh, IATA’s Director General.
“With a record five billion air travellers expected in 2024, the human need to fly has never been stronger. Moreover, the global economy counts on air cargo to deliver the $8.3 trillion of trade that gets to customers by air.
Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important. Profitability enables investments in products to meet the needs of our customers and in the sustainability solutions we will need to achieve net zero carbon emissions by 2050,” said Walsh.
According to IATA’s projections, passenger revenues are expected to reach $744 billion in 2024, up 15.2% from $646 billion in 2023. Revenue passenger kilometers (RPKs) growth is expe.
