Airlines’ net profit expected to hit $30.5 Billion in 2024: IATA

Record 5B passengers projected to fly over 22,000 routes on 39M flights this year, says head of International Air Transport Association

The International Air Transport Association (IATA) expects airlines’ net income to hit $30.5 billion in 2024, up 11.3% from last year.

Airlines are projected to see a historic high of $996 billion in revenues and a record $936 billion expenses this year, according to the Global Outlook for Air Transport report released by the IATA on Monday.

Stressing that the net income represents a net margin of just over 3%, IATA Director General Willie Walsh said: “But considering where we were just a few years ago, it is a major achievement.”

Airlines’ operating profits are expected to reach $59.9 billion in 2024,up from an estimated $52.2 billion in 2023.

The IATA foresees airlines will connect a record 4.96 billion people to over 22,000 routes on 39 million flights this year.

Total air cargo volumes are foreseen to reach 62 million tons in 2024, making possible $8.3 trillion in trade.

Source: aa

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