Global airline industry's 2018 net profit expected to rise: IATA

Global airline industry's 2018 net profit expected to rise: IATA

In the Asia-Pacific region, including India, airlines are expected to register profits of $9 billion in 2018, which would be marginally higher than $8.3 billion projected for this year. Europe will provide the biggest increase in net income at a gain of $1.7 billion as travel continues to rebound from a spate of terrorist attacks and trans-Atlantic demand remains strong.

Over the a year ago, IATA statistics showed that airlines in India recorded an increase in passenger traffic of just over twenty percent. Capacity rose 8.4 percent, and load factor increased 1.3 percent. One emerging concern is the effect of US President Donald Trump's travel restrictions on Middle East carriers.

North American airlines' traffic climbed 3.7% in October compared to the year-ago period, lowest among the regions but an improvement compared to the hurricane-affected 3% growth in September. The load factor represents the number of available seats filled.

Total capacity climbed by six per cent in the global passenger market segment, while load factor increased one percentage point to 79.4 per cent y-o-y, it said.

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IATA said there "continues to be indications" that inbound United States travel is being deterred by the additional security measures now involved when travelling to the country.

Earnings will also increase in the Asia-Pacific region and Latin America.

On a seasonally-adjusted basis, however, volumes are slightly below where they were three months ago. The association expects the faster demand growth to push average load factor to a record 81.4%, which it expects to boost yields by 3%.

The forecast growth rates are slower than the 7.5% y-o-y seen in 2017 for passengers and the 9.3% cargo volume growth expected this year.

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The upward cost pressure from fuel prices is in tandem with rising charges by airline industry suppliers and new infrastructure costs that are contributing to an expected slowdown in capacity increases in 2018, he added. "This reflects the nature of worldwide travel in the region, which is predominantly short-haul and hence, highly price-sensitive".

The third highest growing regions was Africa.

Projecting these figures into the future, IATA predicted that China will be the largest aviation market in the world by 2025, with the US in second position and India in third.

The Middle Eastern carriers are poised to double profits to US$600 million next year due to a 7 per cent growth in demand and a scaling back of capacity injection.

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