Airlines are expecting to carry a record 4.7 billion passengers in 2024 as the sector puts the Covid-19 pandemic behind it, trade industry association IATA said Wednesday.
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IATA also raised its profit outlook, expecting airlines to post $23.3 billion in net earnings in 2023, more than double the $9.8 billion it forecast in June.

“Some 4.7 billion people are expected to travel in 2024, an historic high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019,” IATA said in its traditional review of industry trends as the year draws to a close.

It pointed to survey data showing that nearly half of people’s traveling habits have returning to pre-pandemic norms. One-third reported traveling more and just 18 percent said they are still traveling less.
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IATA also dramatically increased its profit forecast for the industry.

“The improvement was entirely driven by the passenger business which saw revenues increase compared to the previous forecast by $96 billion, to $642 billion,” it said.

Cargo revenues are expected to come in at $134.7 billion, down from the $142.3 billion expected in June.
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