(Corrects first name of investor Layani in first paragraph)
DUBAI: Global airlines on Monday raised their profit forecast for 2024 and projected industry-wide revenues just shy of $1 trillion as a record number of travellers board flights.
"The environment is better than we had expected, particularly in Asia," Director General Willie Walsh told Reuters on the sidelines of an annual meeting of IATA's more than 300 members, which account for more than 80% of global air traffic. By contrast, the corresponding figure for cargo is expected to fall 17.5% in 2024 as freight markerts return towards normal patterns after booming during the pandemic.
"The margin remains wafer thin; we're still looking at a margin of just over 3%," Walsh said." performance is still well below where the industry needs to be."
IATA Airline Forecast Profit Travel Freight
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