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Browsing: Aviation Industry growth 2024
- IATA says a third of travelers polled say they are traveling more than they did pre-pandemic.
- Looking ahead, 44% say that they will travel more in the next 12 months than in the previous 12 months.
- Reflecting the tight supply and demand conditions, efficiency levels are high with the load factor expected to be 82.6% in 2024.
The profits projected for airlines in 2024 are expected to stabilize, despite net profitability forecasted to be well below the cost of capital, according to the International Air Transport Association (IATA).
Industry insiders anticipate that the global aviation sector will generate $25.7 billion (Sh4.06 trillion) in profit in 2024, as international travel finally surpasses pre-pandemic levels.
The trade association for the world’s airlines suggests that the high profit margins will be sustained by approximately 4.7 billion people expected to travel during the year.
“Some 4.7 billion people are expected to travel in 2024, …