Published: Wed, December 06, 2017
Global News | By Stacy Ballard

IATA projects global aviation profit to hit $38.4bn

IATA projects global aviation profit to hit $38.4bn

The strong 2018 forecast is fueled by IATA's projection that the number of airline passengers will increase 6% next year to 4.3 billion, helping revenue jump 9.4%, to $824 billion.

Iata said October's performance was a strong recovery after the hurricane-related disruptions in September and that domestic and worldwide growth was largely in balance.

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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She assured them that their demand for including local fishermen in the rescue operations would be accepted. "It was a nightmare", said a rescued fisherman.

Global passenger traffic rebounded strongly in October after hurricane-related disruptions in the preceding month. "There is significant capacity being added within the region but competition on sixth freedom or connecting markets has eased a little with cutbacks in capacity plans from the Gulf", Mr Pearce said.

Middle East carriers recorded a 6.9 percent rise in demand in October year on year, up from 3.9 percent in September, said the International Air Transport Authority (IATA) in its monthly report released Monday. Capacity rose 8.4 percent, and load factor increased 1.3 percent. North America was one of just two regions to post a load factor decline.

All major aviation markets saw profit growth, with levels in Asia trailing those of Europe and North America, where forecasts were US$11.5 billion and US$16.4 billion respectively.

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On a seasonally-adjusted basis, however, volumes are slightly below where they were three months ago. "And we will see record load factors in 2018. something like 81.4 per cent". "Next year, we are expecting Brent crude to be around US$60 and jet fuel to be around US$74 a barrel". 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. "This reflects the nature of global travel in the region, which is predominantly short-haul and hence, highly price-sensitive".

"African airlines are not in a healthy financial state". Airlines saw traffic grow 7.5 percent, capacity 3.4 percent, and load factor increased 2.7 percent.

In October, domestic air traffic in India grew by 20.4 percent, while it grew by 10 percent in China, 7.7 percent in Brazil, 6.1 percent in Russian Federation, 5.3 percent in the USA, 2.8 percent in Australia, and 2.3 percent in Japan.

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While the total number of reported incidents previous year actually fell by nearly 10 percent to 9,837, the portion that were deemed a higher risk increased from 2015.

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