IATA – Global Outlook for Air Transport, June 2024

In the year 2024, the global air transport industry is facing challenges due to a high number of elections happening around the world, potentially leading to policy changes that may impact economic growth. Tight labor markets are contributing to inflation and policy interest rates may not fall as expected. Despite these challenges, the industry has recovered from the Covid pandemic with traffic levels returning to pre-pandemic levels and profitability improving. However, the pace of growth is expected to slow down and could be impacted by rising unemployment. The industry is projected to see a growth in Revenue Passenger Kilometers (RPKs) and global passengers in 2024, with Asia Pacific leading the growth. The air transportation needs across regions are changing, driven by the aftermath of the Covid pandemic and geopolitical developments. While traffic numbers are back at pre-pandemic levels, the type of connectivity provided by the industry is evolving.