International airline group expects a banner year for travel in 2024
Publishing timestamp: 2023-12-06 10:44:38
Summary
The International Air Transport Association (IATA) expects the aviation sector's net profits to reach $25.7 billion in 2024, with a slight improvement in net profit margin compared to this year. The industry expects record traveler numbers and revenues in 2024, but high cost of capital and limited capacity will continue to constrain airlines. The recovery of post-pandemic consumer demand is evident, but the net profit margin remains low compared to other industries. The industry's profit outlook must be put into perspective, as airlines face burdensome regulation, fragmentation, high infrastructure costs, and oligopolies in the supply chain.
Sentiment: MIXED
Tickers: TUI1-DE,
Keywords: economy, breaking news: business, breaking news: investing, u.s. economy, airlines, breaking news: economy, travel, business, investment strategy, transportation, tui ag, business news, breaking news: markets, markets,
Source: https://www.cnbc.com/2023/12/06/airlines-signs-are-pointing-to-a-bumper-travel-year-in-2024.html