Airlines set for record profit in 2018, fare rise forecast (RY4B)
Airlines set for record profit in 2018, fare rise forecast (RY4B)
US airlines to scoop almost half of global profit in 2018
07 December, 2017, 02:01
The growth in passenger numbers for SA (international and domestic) was expected to be between 3% and 4% a year for the next five years, according to projections by Airlines Association of Southern Africa.
In a statement today, IATA said, passenger capacity grew by 6.2 per cent and load factor climbed 0.8 percentage point to 80.8 per cent year-on-year (y-o-y).
"North American airlines have generated more than half of the industry's profits produced in the past three years, but rising cost pressures have slowed further improvements", the report said.
This was contained in IATA's latest analysis of demand for passenger air transport.
In good news for airline investors, the industry's return on capital is expected to exceed its cost of capital for a fourth year in a row next year.
And the IATA said growth is expected to continue in 2018 by almost $1 billion to $16.4 billion.
Meanwhile, the number of air passengers will rise from 4.1 billion in 2017 to 4.3 billion next year.
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Despite rising costs, things are looking up for the airline industry. The demand for air cargo is at its strongest level in over a decade. "More routes are being opened". The association expects oil prices to average $60 for a barrel of Brent Crude - a rise of 10.7%t on this year, taking oil-related costs up from 18.8% to 20.5%.
This has seen airlines achieve "sustainable levels of profitability", de Juniac said.
"It's still, however, a tough business, and we are being challenged on the cost front by rising fuel, labor and infrastructure expenses".
European airlines generate the second-most revenue when compared by region and made $9.8 billion in net profits this year.
"The industry also faces longer-term challenges".
"On the other hand, the airline capacity growth in the other Asean markets is more aggressive, namely Singapore, Vietnam, the Philippines and Brunei. To continue to deliver on our full potential, governments need to raise their game-implementing global standards on security, finding a reasonable level of taxation, delivering smarter regulation and building the cost-efficient infrastructure to accommodate growing demand", De Juniac added.
He said the benefits of aviation are compelling, with the industry supporting 2.7 million direct jobs and providing support for 3.5 percent of global economic activity. In September, worldwide passenger demand had increased 6.6 percent from the previous month.
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