Global Airlines Raise Profit Outlook for 2024, Projecting Nearly $1 Trillion in Revenue as Travel Soars

Jun 3, 2024, 05:45 AM

The global airline industry has raised its profit outlook for 2024, projecting industry-wide revenues just shy of $1 trillion as a record number of travelers board flights. This optimistic forecast comes amid higher ticket prices and a continued desire to travel following the pandemic. The International Air Transport Association (IATA) predicts the industry will generate $30.5 billion in net income this year. However, despite the positive financial outlook, airline executives express concerns over supply chain problems, which are hindering efforts to achieve net-zero carbon emissions. Profit margins remain thin.