Published: Wed, December 06, 2017
Global | By Shelia Dennis

Pacific carriers en route to higher profits in 2018: Iata

Pacific carriers en route to higher profits in 2018: Iata

The Geneva-based association, representing 275 airlines accounting for 83 per cent of global air traffic, said airlines were set to conclude the year with a tally of US$34.5 billion in net profit, revised upwards 10 per cent from an earlier estimate this year of US$31.4 billion.

The global airlines' grouping anticipates regional air transport demand to grow 7% y-o-y in 2018, while capacity is expected to rise by 6.8% y-o-y.

Similarly, airlines in from across all regions reported an increase in overall year-on-year demand in October.

That's ahead of 7.7 percent in Brazil, 6.1 percent in Russian Federation and 5.3 percent in the USA. "We have a clear strategy that is delivering results on environmental performance", said Iata Director General and CEO Alexandre de Juniac.

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IATA also expects costs to rise as jet fuel and labor expenditures go up.

Volumes are expected to grow by 4.5 per cent in 2018, down from the 9.3 per cent growth of 2017.

An estimated 4.3bn passengers will travel next year, with air cargo to rise to 62.5m tonnes. "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 said. While momentum is easing after a period of restocking, the development of e-commerce should mean that growth rates remain ahead of the pace of expansion in world trade.

According to a Mint report, India looks to be the third largest aviation market by 2025, overtaking the United Kingdom, according to the IATA October.

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Asia-Pacific was the growth leader in October, with passenger traffic growth of 10.3pc.

"While economic conditions have shown strong improvement over the past year or so, the upward trend in seasonally-adjusted traffic has slowed considerably since May", the IATA noted.

IATA said the more than half of safety rules-related offenses involved passengers smoking on board, either in the main cabin, or more likely, in the bathrooms. Capacity rose 8.4 percent, and load factor increased 1.3 percent. "There is significant capacity being added within the region but competition on sixth freedom or connecting markets has eased a little with cutbacks in capacity plans from the Gulf", Mr Pearce said.

Moneycontrol News India's domestic air traffic beat China's growth by double, according to data from the International Air Transport Association (IATA) on Monday.

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