December 6, 2023Business Desk

IATA forecasts $25.7 billion net profit for airlines in 2024

The International Air Transport Association (IATA) has revised its projections for the airline industry, forecasting a robust net profit of $25.7 billion in 2024

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This comes on the heels of an estimated net profit of $23.3 billion for 2023, a stark contrast to the initial projection of $9.8 billion made just six months ago

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The upward revision is attributed to the anticipation of more normalised growth in both passenger and cargo segments

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IATA, representing over 300 member airlines, expects the industry's operating profit to reach $49.3 billion in 2024, up from $40.7 billion in the current year

Source: Unplash