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Bookmark or Share- Economic Performance of the Airline Industry - IATAEconomic Performance of the Airline Industry Key Points • Airline industry is recovering gradually from COVID -19 but RPKs are still estimated to be only 40% of precrisis levels in 2021. • Air cargo has recovered above 2019 levels and is expected to be strong in 2022 with the support of strong global trade.
- Industry outlook upgraded to $25.7 billion profit in 2024Airline industry operating profits are expected to reach $49.3 billion in 2024 from $40.7 billion in 2023. Total revenues in 2024 are expected to grow 7.6% year over year to a record $964 billion. Expense growth is expected to be slightly lower at 6.9% for a total of $914 billion.
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- IATA Annual Review 2023Air cargo’s contribution to airline revenues in 2022 was 17% of total revenues, considerably higher than the 12% in 2019. After a cumulative loss of over $180 billion over the 2020-2022 period, the airline industry is on track to post a collective profit in 2023. The industry performed well on key challenges in 2022.
- Industry Statistics - IATA2 Industry Statistics For more information visit: IATA - Global Outlook for Air Transport Financial results Global airline industry Operating margin, % of revenue Net profit, USD billion
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