IATA: Future annual industry growth of 3.3% impacted by ongoing challenges

Speaking at the 2024 Changi Aviation Summit Singapore, director general of the International Air Transport Association (IATA) Willie Walsh highlighted that although the global aviation industry continued to make a strong recovery in 2023 – with a full year performance at just over 94% of 2019’s figures – future growth is likely to be curtailed by ongoing challenges within the industry. Over the next 20 years, IATA predicts that the industry will grow at 3.3% per annum, “significantly lower” than the growth witnessed during 2010 to 2019, which “does reflect some of the challenges” likely to continue impacting the industry.