Asia-Pacific’s Growth Spurs Record-Setting Year for Global Air Travel and Cargo in 2024
The International Air Transport Association (IATA) reported a 10.4% year-on-year increase in global demand for air travel in 2024, as measured by total revenue-passenger kilo-metres (RPK).
Mehfooz
Airline industry is likely to generate US$30.5 billion of profit this year
Global airlines on Monday (Jun 3) raised their profit forecast for 2024 and projected industry-wide revenues just shy of US$1 trillion as a record number of travellers board flights.
Adil Aziz
Airline Industry expected US$25.7 billion net profit in 2024, due to growth of travel demand
The global airline industry is forecast to post a net profit of US$25.7 billion and achieve record total revenue of US$964 billion next year, on the back of continued strong demand for air travel.
Airlines agonise over safety risk of Israel flights
AIRLINES wrestled with the safety risk of evacuation operations in Israel on Thursday, with carriers including Dutch KLM cancelling flights while sister airline Air France mounted a special relief flight chartered by the French foreign ministry. Airlines have faced warnings over insurance coverage in the wake of the weekend attacks on Israel by Palestinian Hamas…
Global Airlines more than double 2023 profit outlook
GLOBAL airlines more than doubled their 2023 industry profit forecast to US$9.8 billion from US$4.7 billion on Monday (Jun 5) cheered by strong travel demand as the sector recovers from the Covid-19 pandemic. “The pandemic years are behind us and borders are open as normal,” Director General Willie Walsh told the annual meeting of the International…
Airlines will hike ticket prices to pay for costly sustainable fuel: IATA
DEVELOPING more sustainable aviation fuel (SAF) is key to reducing the airline industry’s carbon footprint — but customers will end up footing the bill in airfare prices, according to Willie Walsh, director-general of the International Air Transport Association (Iata). Speaking on Wednesday (Apr 19) at a panel at the Bloomberg New Economy Gateway Europe conference…