IATA Sees Higher Airline Revenue and Profits In 2018

Global Air Freight Demand Slows

And "Tightening supply conditions in the fourth quarter should see the air cargo industry deliver its strongest operational and financial performance since the post-global financial crisis rebound in 2010", said Alexandre de Juniac, IATA's director general and CEO.

These are good times for airlines around the world but it's still a tough business, the industry's trade association says.

However, IATA said it was not concerned there was a pilot shortage after high-profile cancellations at Ryanair and American Airlines due to rostering issues and after some USA airlines awarded high pay increases to pilots this year. "More routes are being opened".

The group disclosed in Geneva, Switzerland that as a result of the situation, African airlines' traffic grew 7.5 per cent year-on-year in October, up from 3.6 per cent in September.

The industry is expected to see a 9.4 percent rise in overall revenues to $824 billion next year along with a 6 percent jump in passenger numbers to 4.3 billion.

Passenger numbers are expected to increase to 4.3 billion in 2018.

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Labour costs, which have now leapt ahead to become the biggest expense for airlines, will comprise some 31 per cent of total costs in 2018. Average net profit per passenger is also forecast to rise to $8.90, up from $8.45 in 2017.

European airlines generate the second-most revenue when compared by region and made $9.8 billion in net profits this year.

"The industry also faces longer-term challenges", de Juniac acknowledged. "Many of them are in the hands of governments". Turning to environmental concerns, IATA, which said the inflation-adjusted cost of flying had halved for consumers since 1996, said aviation was committed to managing its carbon footprint with a near-term goal of capping emissions through carbon-neutral growth from 2020. To continue to deliver on our full potential, governments need to raise their game-implementing global standards on security, finding a reasonable level of taxation, delivering smarter regulation and building the cost-efficient infrastructure to accommodate growing demand.

He said the aviation industry benefits to the economy include 2.7 million direct jobs and support for 3.5 per cent of global economic activity.

Total capacity climbed by six per cent in the global passenger market segment, while load factor increased one percentage point to 79.4 per cent y-o-y, it said.

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