The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December 2023 forecasts. Outlook highlights include: • Net profits are expected to reach $30.5 billion in 2024 (3.1% net profit margin). That will be an improvement on 2023 net profits which are estimated to be $27.4 billion (3.0% net profit margin). • Operating profits are expected to reach $59.9 billion in 2024, up from an estimated $52.2 billion in 2023. The expected aggregate net profit of $30.5 billion in 2024 is a great achievement considering the recent deep pandemic losses.

Source: The North Africa Journal June 03, 2024 06:27 UTC