The International Air Transport Association (IATA) predicts that the airline industry's net profits will reach $23.3 billion in 2023 and $25.7 billion in 2024, overcoming three years of losses due to the COVID-19 crisis. The number of passengers is expected to reach 4.7 billion in 2024, setting a historical high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019. The number of flights will rise to 40.1 million, but this peak in revenue and passengers will not translate into record results for the companies due to narrowing margins. However, the profits reported are well above the forecasts given by IATA last summer, when it predicted a profit of $9.8 billion for 2023. Passenger revenue is expected to reach $717 billion in 2024, up 12% from $642 billion in 2023. The load factor is estimated to reach 82.6% in 2024, slightly better than in 2023 (82%) and equal to 2019. The aviation industry is expected to increase the use of sustainable aviation fuels (SAF) to reduce its carbon footprint.

(Source: Ramón Muñoz - EL PAIS. Read article here)