North American traffic recovery boosts October passenger growth

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The International Airport Transport Association (IATA) said the expected net profit is more than United States dollars 34.5 billion projected for this year.

According to the forecast by the industry's global trade association, combined net profits will hit $38.4 billion, from a revised $34.5 billion in 2017, with USA carriers weighing in with nearly half.

Globally, IATA said industry net profit would rise from $34.5bn in 2017 to $38.4bn in 2018 thanks in part to strong demand, efficiency and reduced interest payments.

This was contained in the International Air Transport Association's (IATA).

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"To be blunt, we have not seen an airport privatisation that has fully lived up to expectations", said Alexandre de Juniac, director general & CEO at IATA.

"It is still, however, a tough business, and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses", he said.

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.

"Aviation is the business of freedom and a catalyst for growth and development".

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"The region's carriers face challenges to their business models, and from low oil revenues, regional conflict, crowded air space, the impact of travel restrictions to the USA, and competition the new "super connector" [Turkish Airlines]", IATA said. "And the industry is ready to partner with governments to reinforce the foundations for global connectivity that are vital to modern life", said Mr de Juniac.

Europe's airlines are in second place with an anticipated US$11.5 billion in profit, boosted by economic recovery in their home markets as well as some consolidation in that region. African airlines are projected to lose $100 million. More people than ever are travelling.

In Europe, capacity increased 4.5pc year-on-year in October, while the overall load factor was 1.3 percentage points higher at 84.9pc.

"The focus is really on the pressure from cost (increases)", said Pearce.

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North America: Airlines in this region are forecast to generate the strongest financial performance with net profits of $16.4 billion in 2018, up from $15.6 billion in 2017. The Middle East should see significant gains, with demand far outstripping capacity growth that's set to be the lowest since 2002 as companies such as Qatar Airways respond to sluggish oil-industry demand and the impact of travel restrictions. "This led cargo volume to grow at twice the pace of the expansion in world trade (4.3%)", said IATA.

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