The International Air Transport Organisation (IATA) has announced strengthened profitability projections for airlines in 2023 are expected to largely stabilise in 2024, although global net profitability is expected to be well below the cost of capital in both years. Airline industry net profits are expected to reach $25.7 billion in 2024 (a 2.7% net profit margin), a slight improvement over 2023. In both years, the return on invested capital will lag the cost of capital by four percentage points (caused by interest rates around the world rising in response to the sharp inflationary impulse). Total revenues in 2024 are expected

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