Airline passengers, revenues globally set to hit records in 2024

Airlines will fly nearly five billion passengers in 2024 and revenues will soar close to US$1 trillion (S$1.35 trillion) - both record highs said the International Air Transport Association (lata) on June 3 as the industry roars back after the Covid-19 pandemic.

- 

The trade body also said it expected the world's airlines to post US$30 billion in net earnings this year, up from its previous estimate of US$25.7 billion.

However, total expenses are also expected to hit a record high this year, climbing 9.4 per cent to US$936 billion, Iata announced at its annual general meeting (AGM) in Dubai.

The expected US$30 billion profit "is a great achievement considering the recent deep pandemic losses", lata director general Willie Walsh said.

"Without a doubt, aviation is vital to the ambitions and prosperity of individuals and economies.

Strengthening airline profitability and growing financial resilience is important," he added.