The International Air Transport Authority (IATA) has predicted more than a trillion dollars in revenue in 2025 and record numbers of passengers despite what its chairman Willie Walsh described as "unacceptable" difficulties in securing new planes.
Airlines around the world have been hampered by problems at Boeing and Europe's Airbus that have delayed deliveries. CEOs insist their companies cannot cut fuel costs while more people travel in the absence of newer, more efficient aircraft.
Despite the problems, IATA expects the industry to generate $36.6 billion in net profit next year, up from $31.5 billion in net profit expected in 2024, with a record of 5.2 billion passengers scheduled to travel.
Source (Al-Arab Newspaper of London, Edited)
