(CercleFinance.com) – Air France is up nearly 5% on the Paris Stock Exchange after today’s IATA study on air market forecasts.
IATA reports that airline industry net profits are expected to reach $25.7 billion in 2024 (2.7% net profit margin). This will be a slight improvement from 2023, which is expected to generate net income of $23.3 billion (2.6% net profit margin).
Airline operating profits are expected to reach $49.3 billion in 2024, up from $40.7 billion in 2023.
Total revenues in 2024 are expected to grow 7.6% year-over-year to a record $964 billion.
Nearly 4.7 billion people are expected to travel in 2024, a historic record which exceeds the pre-pandemic level of 4.5 billion recorded in 2019, adds IATA.
“From 2024 onwards, the outlook indicates that we can expect more normal growth patterns for passengers and cargo,” said Willie Walsh, IATA director general.
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