Airline passengers, revenues to hit records in 2024
The Peninsula
Dubai: Airlines will fly nearly five billion passengers in 2024 and revenues will soar close to $1 trillion, both record highs, trade body IATA said o...
Dubai: Airlines will fly nearly five billion passengers in 2024 and revenues will soar close to $1 trillion, both record highs, trade body IATA said on Monday as the industry roars back after the pandemic.
The International Air Transport Association also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion.
However, total expenses are also expected to hit a record high this year, climbing 9.4 percent to $936 billion, IATA announced at its annual general meeting in Dubai.
The expected $30 billion profit "is a great achievement considering the recent deep pandemic losses", IATA director general Willie Walsh told the body's annual general meeting in Dubai.
"Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies. Strengthening airline profitability and growing financial resilience is important," he added.
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