IATA now projects net airline industry profit of $23.3b in 2023 (2.6% net profit margin) and $25.7b in 2024 (2.7%); total revenues are expected to increase 7.6% y-o-y to record $964b ($717b pax revenues, up 12%) in 2024, when enplanements will reach record 4.7b pax (82.6% load factor) and cargo volumes will hit 61m tonnes vs 58m in 2023.
Global airline industry net profits are expected to reach $23.3 billion in 2023 and $25.7 billion in 2024, a slight strengthening over earlier forecasts
Boeing has appointed Henok Teferra Shawl as the new managing director for Boeing Africa to strengthen the company's operations and relationships across Africa.
AIRBUS booked new orders in November from AER LINGUS for two A320neos, BRITISH AIRWAYS for two A320neos and two A321neos, AIR MAURITIUS for one A350-900 and ALC for one A330-900. It now has 1,512 orders for 2023.
IATA reports y-o-y global pax traffic was up 31.2% in October on 29.4% higher capacity; cargo rose 3.8% on 13.1% higher capacity. It says global pax traffic is now at 98.2% of pre-COVID levels (international 94.4%/domestic 105%).
