IBA forecasts 60% increase in airline profitability in 2024

Aviation market intelligence and advisory company IBA has predicted that airline industry net profit per passenger will increase by almost 60% between 2023 and 2024. IBA Insight data attributes this to a continued increase in capacity, with available seat kilometres up 18% year-on-year from Q1 2023. 2024 traffic is anticipated to outpace 2019 by 4%, highlighting an overall recovery to pre-pandemic levels, with the upward trend expected to continue. However, older aircraft will likely remain in service for some time, with the two major OEMs only 60% of the way to reaching their mid-decade narrowbody targets and less than 50%