New Delhi, December 06, 2023.
The airline industry is projected to register a net profit of USD 25.7 billion in 2024 as more normal growth is expected in both passenger and cargo segments, global grouping IATA said on Wednesday.
For 2023, the net profit is estimated at USD 23.3 billion, significantly higher than the USD 9.8 billion projected by the International Air Transport Association (IATA) in June this year.
IATA has more than 300 airlines as members. The airline industry’s operating profit is expected to touch USD 49.3 billion in 2024 from USD 40.7 billion this year. In 2024, the total revenue is estimated to grow 7.6 per cent to USD 964 billion compared to 2023.