Sky-High Expectations: IATA Forecasts Record-Breaking 4.7 Billion Airline Passengers in 2024

In a recent survey conducted by the International Air Transport Association (IATA), it was found that only 18 percent of respondents are still traveling less than they did before the pandemic.

The IATA’s annual review predicts a significant milestone for the airline industry, estimating that airlines will transport a record 4.7 billion passengers in the coming year. This forecast exceeds the pre-pandemic record set in 2019 when 4.5 billion travelers took to the skies.

Alongside this surge in passenger numbers, the airline industry’s profits are experiencing growth. IATA foresees a net profit of $23.3 billion for the current year, more than doubling their earlier prediction from June.

The association also referenced a recent study indicating a notable shift in travel habits. Nearly half of the respondents reported that their travel patterns have reverted to pre-pandemic levels, with one-third stating that they now travel more frequently. Only 18 percent indicated a continued reduction in their travel activities. This data suggests a substantial rebound in global travel, marking a positive trend for the aviation sector.