All articles tagged with #iata
IATA forecasts that sustainable aviation fuel production will double in 2025 to 2 million tonnes, making up 0.7% of airline fuel use, but emphasizes the need to accelerate production and reduce costs to meet sustainability goals amid industry challenges.
The global airline industry is projected to surpass $1 trillion in revenue next year, driven by a record 5 billion passengers, according to the International Air Transport Association (IATA). Despite this growth, net profitability remains slim at $36.6 billion, hindered by supply chain issues and geopolitical conflicts affecting costs and routes. Middle East airlines are expected to lead in profit per passenger, while sustainability efforts face challenges, particularly with potential policy changes in the U.S. Alaska Air Group plans new routes to Tokyo and Seoul, aiming for significant profit growth by 2027.
The International Air Transport Association (IATA) forecasts record revenue of $996 billion for the airline industry in 2024, driven by a surge in travel and air cargo demand. Despite this, profit margins remain thin due to soaring expenses, with net profits expected at $30.5 billion. IATA highlights the need for addressing supply chain issues and regulatory burdens to improve profitability and sustainability efforts.
Global airlines have raised their 2024 profit forecast to nearly $1 trillion in revenue, driven by a surge in travel demand. The International Air Transport Association (IATA) projects a $30.5 billion profit for 2023, up from $27.4 billion, despite supply chain disruptions and maintenance issues. Passenger yields are expected to rise by 3.2%, while cargo yields are set to decline by 17.5%. North America remains the most profitable region, and Asia's profit forecast has significantly improved. However, the industry's profit margins remain thin at just over 3%.
Global airlines have raised their 2024 profit forecast to $30.5 billion, driven by a surge in travel demand and higher passenger yields, despite ongoing supply chain disruptions and maintenance issues.
IATA Director General Willie Walsh criticized industry stakeholders, including OEMs, airports, air traffic management providers, and oil suppliers, for failing to deliver or hiking fees. He specifically called out Schiphol Airport for continuing to raise charges despite operational disasters and South African airports and air traffic control for demanding significant hikes. Walsh also criticized governments for not acting globally on industry standards and regulations. Despite the challenges, a recent IATA survey showed that 96% of passengers were satisfied with their last trip and 77% said air travel was good value for money.
Unruly passenger incidents on planes have increased by 37% year on year, with non-compliance, verbal abuse, and intoxication being the most common types of incidents, according to a global analysis by the International Air Transport Association (IATA). Smoking of cigarettes, e-cigarettes, vapes, and “puff devices” in the cabin or lavatories was the No.1 non-compliance issue highlighted by the IATA. The aviation body is calling for a zero-tolerance approach to unruly behavior and wants more countries to ratify Montreal Protocol 2014, which allows for the prosecution of these transgressive passengers.
The International Air Transport Association (IATA) has forecasted that global airlines will make nearly $10 billion in profit this year, more than double its previous forecast for 2023. The industry's main lobby group expects 4.35 billion people to travel by air this year, not far off the 4.54 billion passengers who flew in 2019. Stronger profitability was supported by cargo revenues, China's reopening, and lower jet fuel prices. Despite economic uncertainties, people are flying to reconnect, explore, and do business, said IATA's director general Willie Walsh. Profit margins remain "wafer thin," however, and repairing damaged balance sheets will continue to be a challenge for many airlines.