IATA expects airlines to earn $30.5 billion in 2024, up 11.3% from a year ago

04-06-24

The International Air Transport Association (IATA) expects airline net profits to reach $30.5 billion (€28.143 billion) by 2024, up 11.3% from $27.4 billion (€25.283 billion).

According to the forecasts published by the entity, total revenues in 2024 are expected to grow by 9.7% year-on-year to a record $996 billion (€919.058 billion), while growth in expenses will be slightly lower, at 9.4%, for a total of $936 billion (€863.693 billion).

Meanwhile, some 4.96 billion people are expected to travel in 2024, an all-time high that exceeds the level of 2023 and the pre-pandemic recorded in 2019. In addition, cargo volumes are estimated at 62 million tons 2024.

For IATA Director General Willie Walsh, the airline industry is on the path to sustainable profits, but “there is still a long way to go.”