Core Insights - The airline industry is facing a significant challenge with low profit margins, which are insufficient to cover capital costs, highlighting the need for a rebalancing of the value chain and regulatory relief [1] - The International Air Transport Association (IATA) forecasts a record net profit of $41 billion for global airlines in 2024, with a net profit margin of 3.9% [2] - The industry is expected to see a total revenue of $1.054 trillion in 2026, reflecting a 4.5% year-on-year growth [2] Financial Performance - Airlines are projected to achieve an average net profit of $7.90 per passenger in 2024, down from a historical high of $8.50 in 2023 [2] - Passenger traffic is expected to reach 5.2 billion in 2026, a 4.4% increase from 2025, while cargo volume is anticipated to grow by 2.4% to 71.6 million tons [2] Cost Challenges - The cost environment is expected to become more balanced in 2026, with fuel costs projected to decrease slightly to $252 billion, offset by rising non-fuel costs [3] - Aging aircraft fleets and supply chain disruptions are leading to increased maintenance costs and record-high leasing prices, further straining airline profitability [3][4] Supply Chain Issues - The backlog of aircraft orders is expected to continue growing, with supply chain challenges limiting airlines' ability to meet consumer demand [4] - Despite anticipated increases in aircraft deliveries in 2026, the growth rate of new orders is expected to outpace production speed, resulting in sustained financial impacts from supply constraints [4] Regional Demand - The Asia-Pacific region is experiencing strong passenger demand, driven by countries like China and India, with expectations for record-high load factors of 84.4% in 2026 [5] - Europe is projected to have the best financial performance among regions, while Africa's growth potential is limited by low GDP per capita and sensitivity to airfare prices [5]
国际航空运输协会理事长威利·沃尔什： 航空业利润微薄 亚太地区客运需求强劲
Zheng Quan Shi Bao·2025-12-09 18:17