Global airlines raised their 2024 profit forecasts, forecasting industry-wide revenue of just under $1 trillion as passenger numbers soared to a record high.
The International Air Transport Association (IATA) has forecast the global sector to generate profits of $30.5 billion this year, up from the upwardly adjusted $27.4 billion in 2023.
This comes just four years after the sector collapsed and suffered losses of $140 billion in 2020 as a result of the Covid-19 pandemic. However, airlines have warned that their ability to keep up with a strong recovery in travel demand is hampered by problems in global supply chains including the delivery of new aircraft.
Source (CNBC Arabia Website, Edited)
