Global airlines' industry net to hit $38.4 bn in 2018: IATA

07 December, 2017, 02:02 | Author: Franklin Nunez
  • Global passenger traffic up 7.2pc in Oct: IATA

This was contained in IATA's latest analysis of demand for passenger air transport.

In terms of air freight, cargo volumes are similarly expected to rise at a slower pace than this year, down from 9.3 per cent in 2017 to 4.5 per cent in 2018, to reach 62.5 million tonnes.

"As expected, the recent severe weather in the Americas region had only a temporary impact on the healthy travel demand we have seen this year, and we remain on course for another year of above-trend growth", said Alexandre de Juniac, IATA's Director General and Chief Executive in the report.

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.

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In a statement today, IATA said, passenger capacity grew by 6.2 per cent and load factor climbed 0.8 percentage point to 80.8 per cent year-on-year (y-o-y). "For Thailand, Indonesia, Myanmar, Cambodia, Laos (and) Malaysia, the airline industry's capacity growth is moderate and we should expect a more favourable earnings outlook for the airlines based in these countries", she said.

The price of jet fuel is expected to increase 12.5 per cent from $65.6 in 2017 to $73.8 in 2018. 2018 is expected to be the fourth consecutive year of sustainable profits.

IATA said the forecast increase in passenger fares was in line with expected inflation.

"Demand for air freight grew by 5.9% in October".

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Asia-Pacific airlines led all regions with traffic growth of 10.3% compared to the year-ago period, which was up from an 8.7% rise in September. "More routes are being opened", he told the IATA global media conference in Geneva, Switzerland.

De Juniac points out that airlines still face cost challenges in rising fuel prices, labor and infrastructure expenses. "Many of them are in the hands of governments". "Governments are not meeting their responsibility to provide sufficient infrastructure for the industry to meet demand", de Juniac said. "While restocking cycles are usually short-lived, the growth of e-commerce is expected to support continued momentum in the cargo business beyond the rate of expansion of world trade in 2018", it added.

He said the benefits of aviation are compelling, with the industry supporting 2.7 million direct jobs and providing support for 3.5 percent of global economic activity.

After declining for six years in a row, passenger yields, a measure of ticket pricing, are also expected to rise 3 percent next year after falling 1.5 per cent in 2017.

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