Published: Wed, December 06, 2017
Money | By Charlene Sutton

Global airlines' industry profit to hit $38.4b in 2018: IATA

Global airlines' industry profit to hit $38.4b in 2018: IATA

In fact, the organization expects airline unit costs to increase 4.3% in 2018 compared to unit revenue growth of 3.5%.

It's the 15th consecutive month that the demand growth outstripped the capacity growth, which is believed to be a positive indicator for load factors, yields, and financial performance. Meanwhile, airlines in the Asia-Pacific region witnessed an increase in freight volumes by 4.4 percent, and the capacity expanded by 3.9 percent in October 2017, compared to the same period a year ago. Capacity rose 8.4 percent, and load factor increased 1.3 percent.

The global civil aviation body added that traffic had been heavily affected by the now-lifted ban on portable electronic devices, as well as from the proposed travel bans to the U.S.

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Capacity rose 5.2% and load factor dropped 1.1 percentage points to 79.2%.

Global demand rose 7.2 percent in October, measured against the same month past year, after hurricanes in the Caribbean and southern United States had pegged back demand in September. Inbound travel to the U.S. seems to be deterred by the additional security measures now involved with travelling to that country. Latin American passenger traffic showed an 8.7% rise during the month, slowing from 10.7% in September; IATA said global passenger volumes for the region's airlines have struggled to recover from the impacts of the September hurricanes.

On a seasonally-adjusted basis, however, volumes are slightly below where they were three months ago.

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Geneva/London: Global airline earnings this year will top previous forecasts and surge to a record in 2018, spurred by higher fares and burgeoning cargo demand, according to the industry's main trade group.

The air-freight market is buoyant after years in the doldrums, IATA said, with volumes likely to reach 62.5 million metric tons next year. "This reflects the nature of worldwide travel in the region, which is predominantly short-haul and hence, highly price-sensitive". 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.

Africa is set to remain the only unprofitable region, IATA predicts, with airlines suffering a collective $100 million loss in 2018, similar to this year.

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Projecting these figures into the future, IATA predicted that China will be the largest aviation market in the world by 2025, with the U.S. in second position and India in third.

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