The International Air Transport Association (IATA) expects airline profits to stabilize in 2024 as continued growth in post-pandemic travel is offset by rising cost of capital and capacity constraints. The global aviation industry has largely recovered from the COVID-19 pandemic that has seen aircraft ground up and passenger hesitation to fly, with demand booming across North America, the Middle East, and Europe.
According to IATA, the aviation sector returned to profitability in 2023, with net profit expected to reach $23.3 billion with a margin of 2.6 percent, and is expected to reach $25.7 billion with a margin of 2.7 percent next year. The number of travelers globally is expected to rise to historic levels, reaching 4.7 billion people in 2024 compared to 4.5 billion in 2019.
Source (Al-Sharq Al-Awsat newspaper, Edited)
